Former TATA MD Dilip Pendse commits suicide

[India], July 5 (ANI): Former TATA Managing Director (MD) Dilip Pendse on Wednesday committed suicide at his office in Matunga.

In the suicide note found, personal reason has been cited by Pendse for taking his life.

“Suicide note found cites reason ‘frustrated due to personal life issues’,” says the Mumbai Police Public Relations Officer (PRO).

“It is a suicide. He was found hanging at his office. An investigation is underway,” the PRO further said.

Pendse was surrounded by controversy when the Securities and Exchange Board of India (SEBI) barred him from the capital market for manipulations at the time of the firms’ right issue in 2001.

In the same year, the SEBI initiated a probe after receiving complaint about Pendse conducting “illegal carry forward transactions”. (ANI)

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