Kabir, 54, committed suicide by hanging himself from the ceiling of his house in the early hours of Friday after alleged pressure from Ibrahim, a money-lender, over a financial transaction.

Kalandiar acted as guarantor when his friend Tushar, managing director of Ghomoti Auto Mills, took Tk 38 lakh as loan from Ibrahim around eight months back, family sources said.

As Tushar failed to repay the money in due time Ibrahim exerted excessive pressure on Kalandiar to get back the money which prompted him to commit suicide, they added.

Kalandiar left a note where he blamed Tushar responsible for his death.

Kalandiar's family members said both Tushar and Ibrahim are responsible for his death as they jointly conspired to take the possession of their house.

Police have been looking for Tushar who went into hiding since Friday.