
Ryot kills self in Salem; two booked for abetment
The deceased was identified as Vadivel of Thukkiyampalayam village in the district. Vadivel is survived by his wife, daughter and a son.
Police said Vadivel had obtained Rs 4.80 lakh as a collateral loan by pledging his land documents four years ago. The EMI due date for the loan was on the 10th of every month.
As he was not able to pay the last EMI due on April 10, two staff from the company visited his home on Tuesday morning and allegedly threatened him to pay the loan amount.
Allegedly bowing to pressure from the finance company, he ended his life on Tuesday night. Vazhapadi police visited the place and sent the body for postmortem at Salem government hospital.
(To overcome suicidal thoughts, contact the helpline 104, and Sneha's suicide prevention helpline at 044-24640050)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Indian Express
16 minutes ago
- Indian Express
Trump tariffs: Why gem & jewellery sector fears rivals could undercut Indian exports
Facing a sharp blow from the US' steep tariff hike, India's gem and jewellery export industry has sought government intervention to cushion the impact and sustain its competitiveness in global markets. The sector finds itself at a crossroads, as rivals like Turkey, Vietnam and Thailand continue to enjoy significantly lower tariffs, making Indian products less attractive in the lucrative American market. The US accounts for nearly 30 per cent — or close to $10 billion — of the total gem and jewellery exports. Kirit Bhansali, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), warned that unless corrective action is taken, India risks losing its hard-won position as a key supplier to the US. The threat isn't just financial — it's strategic. Bhansali expressed concern that international trade may start rerouting via low-tariff countries like Mexico, Canada, UAE, Oman and Turkey, undermining transparency and sidelining legitimate Indian players. This is particularly alarming since 85 per cent of exports from the SEEPZ Special Economic Zone — that employs over 50,000 people — are to the US. For cut and polished diamonds, the US remains the market for nearly half of India's total exports. A prolonged tariff standoff, Bhansali warned, could bring the industry to a grinding halt. The industry has asked the government to roll out a targeted scheme — similar to the Duty Drawback — that would reimburse 25–50 per cent of the new US-bound tariff burden between August and December 2025. GJEPC believes this is vital to prevent disruption across the value chain, stretching from artisanal karigars to large-scale manufacturers. In addition to tariff relief, exporters are calling for temporary financial breathing space. They've requested a six-month deferment on interest payments, a measure that echoes the pandemic-era support extended by lending institutions. With cancelled orders threatening to lock up working capital and push units towards non-performing asset (NPA) status, the Council has urged the government to allow SEZ units to release unsold stock into the domestic market. The sector is also grappling with shipment delays triggered by global uncertainty. To address this, banks are being asked to extend pre-shipment loan due dates by 90 days without penalties. The GJEPC has also called for the reintroduction of the interest subvention scheme, which could offer much-needed liquidity during a period of heightened risk. It has asked both the Centre and the RBI to consider short-term relief packages tailored to the sector's needs. Ironically, while the threat looms large, recent data points to a short-term spike in trade. Gross exports of gems and jewellery rose by nearly 16 per cent in July 2025, reaching $2.18 billion (Rs 18,756 crore), up from $1.88 billion (Rs 15,700 crore) a year ago. Imports too surged 26.5 per cent, as traders rushed to complete orders before the tariff hike took effect in August. A similar surge was seen in cut and polished diamond exports, which jumped nearly 18 per cent to $1.07 billion (Rs 9,230 crore), largely due to pre-emptive stocking by global buyers. This uptick, however, may be short-lived. Colin Shah, MD of Kama Jewelry, termed July's performance as a 'cautionary uptick' — a final flourish before the sector feels the full weight of tariff-induced drag. While new trade agreements like the India-UAE CEPA have unlocked opportunities, the broader landscape remains volatile. High gold prices, geopolitical uncertainty, and unstable metal markets continue to cloud the outlook, he said. The festive and wedding seasons in India may help absorb some of the shock by boosting domestic demand. But for the export-reliant segment, all eyes are now on the trajectory of India-US trade negotiations. With the current 50 per cent tariffs in place, sustaining recent growth could prove difficult, and industry leaders are hoping that policymakers will step in before the sparkle fades.


Indian Express
16 minutes ago
- Indian Express
Businessman cheated: Court rejects anticipatory bail plea of accused in Rs 43 crore ‘dabba trading'
In a case filed by the police for alleged cheating of a city-based businessman to the tune of nearly Rs 43 crore in 'dabba trading', a court has rejected the anticipatory bail plea of the accused. A case was filed by the L T Marg police against Ladulal Kanther, his son Pallav Kanther and nephew Shubham Mahavir Kanther earlier this month on allegations that they had cheated the complainant businessman. The court rejected the pre-arrest bail plea of Shubham on Thursday. 'The investigation is at initial stage. Yet the huge quantity of gold and money is to be recovered. The offence is of a serious nature. A detailed investigation is necessary. The possibility of tampering with prosecution evidence cannot be ruled out,' the court said. The allegations against the accused are that they had met the complainant through a chartered accountant and presented themselves to be engaged in trading of gold and silver through their firms, Maxis Bullion and Pallav Gold, with the promise of good returns on their investments. It was alleged that the complainant had initially invested Rs 2.2 crore which was repaid by the accused and subsequently invested 36.4kg gold and Rs 10.51 crore in cash between 2023 and 2024. The accused delayed repayment business citing slowdown due to gold price fluctuations and assured repayment once operations normalised. As the repayment kept getting delayed, the accused admitted to have invested in an illegal speculative gambling activity, referred to as dabba trading, for betting on stock prices outside the exchange. The complainant alleged that cheques issued by the accused for repayment too were dishonoured. Shubham in his plea claimed that he was falsely implicated and that this was not a criminal case but a civil dispute. The court said that a probe is necessary into the allegations and rejected the plea.


Time of India
25 minutes ago
- Time of India
Court rejects bizman's bail plea in 4cr trust misappropriation case
Mumbai: Sessions court rejected the bail plea of Shamsher Talwar, a businessman accused of misappropriating approximately Rs 3.5 crore from two trusts citing forged documents and his lack of cooperation with the ongoing investigations. Talwar served as a trustee and secretary for both Sanatan Dharma Sabha Trust and Kolwada Sanatan Dharma Sabhas Education Society Trust. The trusts were granted a plot of land at Sion Koliwada, Antop Hill, by BMC for conducting school activities of Shri Sanatan Dharma Sabha. It is alleged that Talwar and his wife, also an accused, improperly developed a turf on the land without approval from the board of trustees and are accused of collecting Rs 3.5 crore from private users of the turf. Talwar was arrested on May 22 by EOW. The prosecution submitted that a meeting of trustees, held on March 15, 2020, never occurred. The minutes of this meeting, which Talwar's defence used to argue that the turf proposal was approved, were allegedly forged. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Gold Rates Today in Mumbai | Silver Rates Today in Mumbai Four of the trustees were not members of the board of trustees in 2020; they were inducted in 2021. Other trustees who were listed, stated that no meeting was held and their signatures were falsified. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !