A 32-year-old entrepreneur who aspired to establish a chain of premium gyms across India allegedly died by suicide in Gwalior after claiming he was cheated of ₹23 lakh on the promise of securing a multi-crore business loan. The deceased, identified as Jaspal Singh Yadav, left behind a detailed suicide note naming three individuals and appealing to Union Minister Jyotiraditya Scindia to ensure justice for his family.

Jaspal's mutilated body was found on railway tracks under the Jhansi Road police station limits on Sunday night. Police later identified him and recovered a suicide note, which has now become the focus of the investigation.

Dream of Expanding Fitness Business

According to family members, Jaspal had been planning to build a nationwide chain of high-end fitness centres and was looking for financial support to expand his business. In February 2025, he allegedly came into contact with a man identified as Ravi Kumar, who assured him that a loan of ₹3.45 crore could be arranged through Piramal Bank.

The proposal reportedly appeared credible after Jaspal was allegedly shown what he believed to be an official loan sanction letter. Trusting the assurances, he is said to have paid ₹23 lakh over time towards processing charges and other expenses related to the promised loan.

Loan Never Materialised

Despite repeated assurances, the promised loan was never disbursed. Jaspal's family alleged that the accused continued to delay the process for nearly one and a half years while giving fresh explanations each time they were contacted.

His brother, Chhatrapal Singh Yadav, said the prolonged uncertainty and mounting financial liabilities left Jaspal under severe mental stress. According to the family, neither the loan was sanctioned nor was the money returned.

Suicide Note Names Three Individuals

In the suicide note recovered by police, Jaspal alleged that Ravi Kumar, Ashish Gupta and Ravi Jatav had deceived him by showing a fake loan sanction document and collecting money under false pretences.

He further claimed that Ravi Kumar had remained out of reach for a long period and that some of his relatives had allegedly helped him evade contact.

The note also alleged that similar fraud may have been committed against other people, urging authorities to investigate the matter thoroughly.

Financial Burden Became Unbearable

Jaspal wrote that arranging ₹23 lakh had forced him to mortgage several personal assets, including his Bullet motorcycle, gold jewellery, a Safari vehicle and another car. He also claimed to have borrowed money at an interest rate of around 20 per cent.

According to the note, the accumulated debt, including interest, had risen to nearly ₹35 lakh, making it impossible for him to recover financially.

Family members believe the financial burden and repeated delays pushed him into extreme distress.

Appeal to Jyotiraditya Scindia

In an emotional message addressed to Union Minister Jyotiraditya Scindia, Jaspal requested strict legal action against those he held responsible for his death.

He appealed for the accused to receive life imprisonment and requested that the money allegedly lost in the transaction be recovered and returned to his father.

The family said Jaspal admired Scindia after the minister honoured his brother, national-level crossbow player Chhatrapal Singh Yadav, following a gold medal victory in 2019. Since then, Jaspal had remained a supporter of the senior BJP leader.

Police Begin Investigation

Police have seized the suicide note and launched an investigation based on the names, mobile numbers and addresses mentioned in it.

Officials said statements of family members are being recorded and the allegations contained in the note are being verified. Authorities have clarified that further legal action will depend on the evidence collected during the investigation.

The case is being probed from multiple angles, including the alleged loan fraud and the circumstances that led to Jaspal's death. Police have appealed to the public not to draw conclusions until the investigation is completed.