Businessman dies by suicide due to mounting debts in Hyderabad

Police said Nagesh had borrowed hand loans worth several lakhs and could not clear them

Hyderabad: A businessman died by suicide allegedly due to mounting debts in Vanasthalipuram on Sunday night.

The victim B Nagesh (52), a resident of Pragathi Nagar in Mansoorabad is the managing director of two private hospitals. He is survived by a wife and two children.

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Police said Nagesh had borrowed hand loans worth several lakhs and could not clear them, resulting in pressure being mounted on him from the money lenders.

Unable to take further pressure, he hanged from the ceiling fan in his bedroom. The police recovered a suicide note purportedly written by him from the spot.

The Vanasthalipuram police are investigating.