Hyderabad: A 20-year-old student died by suicide at Ashoknagar under Chilkalguda police station jurisdiction on Sunday after suffering huge losses and mounting debts due to Indian Premier League (IPL) betting.
S. Satish Babu died by suicide at a private hostel in Chikkadpally, police said on Sunday.
According to police, Satish was a final year degree student at a private college in Vijayawada. During the recent IPL season, he invested in betting and incurred heavy losses. To recover from the losses, he borrowed money from friends and moneylenders and invested in betting. While his family had cleared part of his debts, he was depressed over not being able to repay the mounting debts. He had shifted to Hyderabad about a month ago in search of a job and was living in a private hostel. His plan was to look out for a job so that he can clear the debts.
On Sunday, he died by suicide in the hostel where he was staying, SHO Chikkadpally N. Sanjay Kumar said. Based on a complaint lodged by his parents, a case has been registered. His body has been handed over to them after a postmortem examination.
No suicide note has been found but on the information shared by his parents, the reason behind the suicide has been ascertained, the SHO said. Further probe is on.
