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Crime Patrol: Shocking: Unable to pay Rs. 8-lakh loan, man kills mother, wife and daughter (Episode 432 on 14th November 2014)

The Inside Story

Mumbai, Maharashtra

Debt-ridden man kills wife, mother and daughter in Mumbai apartment

Debt, threats from loan sharks, and sheer despair led a 40-year-old man to murder his wife, mother, and seven-year-old daughter on Tuesday evening. The next morning, residents of SLK Heights, Fatima Nagar woke up to the sounds of police sirens and officials questioning people after the accused, identified as Sagar Madhav Gaikwad, confessed to strangling his mother, wife, and daughter.

According to Wanawadi police, Gaikwad, who stayed in the apartment on a rental basis, first administered sleeping pills to his family and then strangled each of them. Gaikwad, who was unemployed for the last two years and involved in share trading for the past year, lived with his wife Kavita, mother Shakuntala, and daughter Ishita.

In his statement, Gaikwad said that he had taken a ₹6-lakh loan from a cooperative bank for a car. He was paying the monthly installments but an amount of ₹4.5 lakh was still outstanding. He added that he had taken another ₹1.9-lakh from a private moneylender at a 15% interest rate. "Gaikwad said that as he was finding it difficult to repay the amount, the moneylender was threatening him and his family with dire consequences. Unable to find a way out, he killed his family," said an official from Wanawadi police station.

The stunned cops rushed to his place and found the dead bodies, which were sent for post-mortem around 2 pm.

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