VIJAYAWADA: Unable to bear losses in business, a financier, P Kondala Rao (40) committed suicide by hanging himself in his residence on Monday late hours.The incident came to light on Tuesday when his family members informed the police. Rao used to reside in a rented house with his family in Gollapalem Gattu centre, under the jurisdiction of Two-Town police station.
According to Two-Town police inspector Md Umar, the deceased had started ‘Balaji Finance’ in Krishna Lanka with two of his friends as business partners. Due to huge losses incurred in the business, Rao borrowed money from his friends. To clear the debt, he sold his property in the city and was depressed over it. He is survived by his wife and two children.
Based on the complaint lodged by his family, a case of suspicious death has been registered and investigation is on.
Suicide Helpline
OneLife: 78930-78930
Roshni, Hyderabad-based NGO: 040-66202000