Farmer abducted over unpaid loan instalments:Body found at finance company’s office three days later; 5 arrested

The body of 40-year-old farmer Chandrakant Shinde has been found in Maharashtra’s Nanded district. It was found at the office of a private finance company. The family and villagers allege that recovery agents kidnapped Chandrakant after he failed to repay a loan instalment. His body was found three days later. Chandrakant Shinde was a resident of Malkotha village in Mudkhed tehsil of Nanded district. An investigation is under way into the circumstances of Chandrakant’s death. Police have not yet said whether the case is one of suicide or murder. According to the Nanded SP, police have arrested five accused in the case. The arrests include Aslam, the main accused who ran the finance operation. A nine-member Special Investigation Team (SIT) has been formed to investigate the case. The finance company’s office has been sealed and raids have been conducted at three locations. Debt troubles in drought-hit villages The incident occurred amid farmers’ financial distress in parts of Nanded district. Drought-like conditions have been reported in several villages in the district. The SP was asked whether any specific guidelines had been issued for finance companies regarding loan recovery from farmers in drought-affected areas. He said that no such official guidelines had been issued. However, a meeting had been held with the district collector. The SP said, “If loans are being recovered illegally anywhere, citizens should come forward. Appropriate action will be taken.” Claim that main accused was absconding called false Regarding the arrest of recovery agents and the claim that the main accused was absconding, the SP said it was false. He said an SIT had been formed and the police were trying to arrest everyone involved in the case. When the SP was asked whether Shinde’s death was a suicide or murder, he declined to provide information. He said details about this could not be shared. Chandrakant Shinde’s family includes his wife, two daughters, two sons and mother. Further investigation into the case is under way. Maharashtra tops the country in farmer suicides Maharashtra recorded 4,151 of the 10,786 suicides among people engaged in farming across India in 2023, according to NCRB data. The state government’s Revenue Department reports that crop failures and debts owed to private moneylenders and finance companies were cited in more than 80% of cases in parts of Vidarbha and Marathwada, including Yavatmal, Amravati, Nanded and Beed. Farmers’ dependence on cash crops such as cotton and soybean, high input costs and loans carrying interest rates of 24–36% add to the pressure. Maharashtra also recorded 1,247 cases of illegal moneylending and extortion in 2023. In Nanded, nine FIRs alleging assault or wrongful confinement by loan recovery agents were filed by farmers over the past two years. ​