Nagpur: A 42-year-old businessman residing in Tulsi Nagar, Nagpur, has gone missing, leaving his family and friends deeply concerned. Saurabh Jain, also known as Appu Jain, reportedly disappeared from his home on October 2, prompting his loved ones to file a missing person report with the Lakadganj Police Station, a report in a local daily said.
Saurabh Jain’s sudden disappearance is believed to be linked to the financial troubles he faced in the wake of the Covid-19 pandemic. Prior to the pandemic, his garment business had been flourishing since 2014, and he had even purchased a house with a loan. However, the lockdown measures implemented due to Covid-19 had a devastating impact on his business, leading to significant losses.
According to a local media report, Jain had accumulated debts amounting to a staggering Rs 2.5 crore. Desperate to manage his mounting financial obligations, he resorted to borrowing money from both banks and private lenders, often at exorbitant interest rates. Unfortunately, his efforts to pay off the debt and interest by taking on additional loans from the market only trapped him further in a cycle of debt.
The situation worsened as his shop was seized by the bank just last month, and his housing loan became non-performing, with the bank considering foreclosure. This mounting pressure from financial institutions and loan sharks, relentlessly demanding repayment, had placed Jain under immense stress.
Jain’s family members, deeply concerned about his well-being and the pressure he was facing due to his financial situation, believe that this unbearable tension drove him to take the drastic step of disappearing. His family initially hoped for his swift return but, after extensive searching at all known locations proved fruitless, they decided to file a formal complaint with the Lakadganj Police Station.
Local authorities are actively investigating the case and are working to locate Saurabh Jain. Friends and family members remain anxious and continue to hold out hope for his safe return as they anxiously await updates from the police investigation. The community at large also expresses their concern for the missing businessman, reflecting the impact of financial distress that has affected many during these challenging times.
