Dubai: The death of a Dubai-based Indian industrialist, who died after falling from a high-rise building last week, was a case of suicide over financial problems, police confirmed after an investigation, according to a media report.

Joy Arakkal, who hailed from Kerala and was the managing director of Dubai-headquartered Innova Group of Companies which had diverse businesses, with major focus in the oil sector, committed suicide on April 23 by jumping from the 14th floor of a friend's building in Business Bay, Dubai police told Gulf News on Wednesday.

The businessman committed suicide over financial problems, Brigadier Abdullah Khadim Bin Sorour, director of Bur Dubai Police Station, said, ruling out any criminal suspicion behind the death.

Police said they are coordinating with the businessman's family for the repatriation of his body. Arakkal is survived by his wife and two children who live in Jumeirah.

Consul General of India in Dubai Vipul told Gulf News that Arakkal's family is set to fly home with his body after Indian authorities gives them special permission to travel in a chartered air ambulance.

They have received the NOCs (No Objection Certificates) from India. We have taken it up with the UAE MoFAIC (Ministry of Foreign Affairs and International Cooperation) for necessary permits from the UAE side, Vipul said.

Once the approval is received, a chartered air ambulance will fly in from Bangalore to carry the family and the mortal remains of Arakkal.

A few social workers and community leaders, who were coordinating with Arakkal's family for the repatriation procedures, attended the embalming service on Tuesday.

Arakkal's's funeral will be held in his hometown in Mananthavady in Wayanad district.

His companies include oil refineries, petrochemical trading, ISO tank cleaning services, shipping services and a telecom company working for infrastructure projects in the UAE.

He had received many awards including a lifetime achievement award from Kerala Chief Minister Pinarayi Vijayan during his visit to Dubai.

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New Delhi (PTI): Police here have busted a crime syndicate involved in traffic fraud and extortion, arresting three people including the alleged mastermind who sold fake stickers to help commercial vehicles bypass no-entry restrictions, an official said on Saturday.

The police said they dismantled a third organised syndicate linked to traffic-related frauds, with the arrest of Rinku Rana alias Bhushan, his associate Sonu Sharma and Mukesh Kumar alias Pakodi, who was also connected to another extortion syndicate.

According to the police, Rinku Rana was running a well-organised network that facilitated the movement of commercial goods vehicles during restricted hours by selling fake 'marka' or stickers for Rs 2,000 to Rs 5,000 per vehicle every month. The stickers were falsely projected as authorisation to evade traffic challans.

During raids, the police recovered Rs 31 lakh in cash, property documents worth several crores of rupees, over 500 fake stickers and six mobile phones allegedly used to operate the syndicate.

The crackdown followed a complaint filed by a traffic police officer in April this year after a commercial vehicle tried to evade checking by producing a fake sticker claiming exemption from enforcement action.

Investigation revealed that social media groups were being used to coordinate the illegal movement of vehicles and alert drivers about traffic police checkpoints, police said.

"A parallel system was being run to cheat drivers and vehicle owners while undermining traffic enforcement. On the basis of evidence, provisions related to organised crime under the BNS were invoked," a senior police officer said.

Sonu Sharma, the police said, managed social media groups through which stickers were sold and real-time alerts were circulated regarding traffic police movement. He also acted as a link between Rana and drivers operating in the field.

In a related development, Mukesh Kumar alias Pakodi, an associate of Rajkumar alias Raju Meena, who was earlier arrested under the Maharashtra Control of Organised Crime Act (MCOCA), was also apprehended.

Mukesh allegedly helped extort money from transporters and was involved in blackmailing traffic police personnel by recording enforcement actions, the police said.

Investigators alleged the syndicate led by Rajkumar deployed drivers to deliberately violate traffic rules and secretly record police officials during challans, later using manipulated videos to extort money under threat of false allegations.

The police said that in total, eight accused belonging to three different organised crime syndicates linked to traffic frauds and extortion have been arrested so far.

Further investigation is underway to trace the remaining members, conduct financial probes, and analyse digital evidence recovered during the raids, officials added.