Dilip Pendse, former managing director of Tata Finance, was found dead on Thursday in his office at Dadar, Mumbai.
He committed suicide, Rashmi Karandikar, deputy commissioner of police (operations), Mumbai, told BloombergQuint.
The police have lodged an accidental death report with the cause of death suspected to be asphyxiation due to hanging, Karandikar said in a statement issued earlier. The body was sent to Sion hospital for a post mortem.
According to a note found at Pendse’s office, he allegedly committed suicide due to personal reasons and nobody should be held responsible, Balasaheb Kakad, senior inspector at Matunga police station, told BloombergQuint.
Pendse was removed as head of Tata Finance in 2001 after a subsidiary of the company ran a large mark-to-market loss. The Tata Group had then filed criminal charges against him.
(This article was orginally published in BloombergQuint)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)