The man, identified as Kumar, poured kerosene on himself and his minor son on Saturday last and attempted to light a matchstick in a bid to immolate, they added.
The man did this as a jeweller had reportedly not returned Rs 10 lakh he had borrowed some months ago despite several reminders.
However, police personnel overpowered the Kumar and admitted him to the government hospital here.
A case under IPC Section 309 (attempting to commit suicide) was registered against him and he was remanded to 15 days custody, police said adding the instigation angle behind the attempt was also under probe.