Ananda Mukut Bapat (58) hung himself from the ceiling at his house, they said.
Police sources said Bapat had amassed huge wealth in the form of scrapped currency notes. He apparently went into depression after the demonetisation move and decided to end life.
Bapat had taken VRS from the bank and had started his own business. He had called his son from Pune few months back to assist him in the business, they said.
Saoner Police has registered a case of accidental death (AD) and handed over the body to his son after conducting a post mortem.