A prominent educational entrepreneur of Odisha, Janaki Ballav Padhee, was found hanging in his Bhubaneswar residence on Thursday.
“It appears to be a case of suicide. A case of unnatural death has been registered,” said Satyabrata Bhoi, Deputy Commissioner of Police.
Mr. Padhee had established hugely successful Padhee’s Tutorial Private Limited, a coaching centre for competitive examinations. Subsequently, he founded a number of colleges.
The body was found hanging from a ceiling fan. Police recovered a 10-page suicide note. Police sources said his journey from a remote village of Khordha to pinnacle of success was vividly described. There was mention of loans for funding the educational institutions.
Close associates said Mr. Padhee was under depression over the burgeoning loan burden. During the past couple of years, the profit margin in education business had dropped sharply due to mushrooming of institutes.
