Hyderabad: A chit fund agent died by suicide in Telangana’s Karimnagar on Saturday, March 1 over non payment of dues to investors.
The deceased was identified as 46-year-old Chintala Rajaiah. Akshara Chit Funds, the company Rajaiah worked for, had shut down without repaying the investors. According to the police, the abrupt closure of the chit fund company resulted in Rajaiah being unable to repay the money owed to his clients.
Faced with mounting pressure from these clients and overwhelmed by his own financial burdens, he took the extreme step, police said.
Upon receiving a complaint lodged by Rajaiah’s wife Lavanya, the police registered a case and started an investigation into the circumstances surrounding Rajaiah’s death.
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