RAJANNA-SIRCILLA: A debt-ridden powerloom owner Chiluka Satyanarayana (52) of Venkampet colony in Sircilla town, committed suicide on Wednesday.
Satyanarayana had been running ten powerloom units for the past 20 years. Due to steep hike in the yarn rate in the last two months, his cotton powerloom units were not running properly, resulting in bad debts. On other hand, he obtained `5 lakh loan from moneylenders for his daughter’s marriage.
Because of mounting debts, Satyanarayana took the extreme step of hanging himself in his house. He is survived by his wife and three children.