Tata Finance ex-MD Dilip Pendse hangs self

Tata Finance ex-MD Dilip Pendse hangs self

Former Tata Finance MD Dilip Pendse committed suicide by hanging himself from the ceiling fan of his office at Dadar on Wednesday. He was 61.

The Matunga police have registered a case.

It is not yet known whether any suicide note has been found. The body has been sent for post-mortem at the Sion Hospital.

It may be recalled that, in 2016, in a 15-year-old case the Sebi had barred Pendse and three other entities from the capital market for manipulations at the time of the firm’s right issue in 2001.

This order was issued following an investigation conducted by the Sebi into the dealings of Inshaallah Investments Pvt Limited in the scrips of Himachal Futuristic Corporation Limited, Tata Engineering and Locomotive Company Limited (presently known as Tata Motors Limited), Infosys Technologies Limited (Infosys) and Software Solutions India Limited.

The complaint was filed by Tata Finance, which had alleged certain illegal carry forward transactions in these scrips at the behest of Pendse.

DH News Service

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