A 53-year-old businessman and chairman of a private school allegedly committed suicide by hanging himself from a ceiling fan at his residence here today, police said.
"Ramavaram Prasada Rao, who took the extreme step, was an auto-mobile businessman and running Ken Crest English medium High School here. He had borrowed money from three persons including a police officer," Karimnagar Two town Circle Inspector S Hari Prasad said.
Yesterday, financiers allegedly threatened him of dire consequences if he was unable to return the money, the officer said.
Karimnagar Superintendent of Police D Joel Davis said a suicide note was found from the spot.
Prima facie, the alleged threats could be the reason for his suicide. Three persons including a cop - Mohan Reddy, Assistant Sub Inspector, have been booked on the charges of abetment to suicide.
A case has been registered against the trio and investigations are underway, police said.
