Dinesh Pawar, who dealt in fire fighting equipment, was apparently under stress as he had taken loan from various sources, they said.
He allegedly committed suicide by consuming some poisonous substance at his house in Kalamb village on Mumbai-Nashik highway yesterday, Sahapur's assistant police inspector Hanumant Borate said.
A suicide note was recovered from the spot in which the deceased purportedly mentioned the circumstances under which he resorted to take the extreme step, he said.
Some names were also mentioned in the suicide note and those persons have been identified, Borate said but refused to divulge further.
The body has been sent for postmortem to the local hospital, he said.