Veteran cricketer V B Chandrasekhar was found hanging from the ceiling fan in his bedroom at his residence in upscale Mylapore here, police said on Friday. The cricketer, who had invested in Tamil Nadu Premier League (TNPL) and was managing the Kancheepuram cricket team, is suspected to have suffered huge losses in his cricket business.

Police said Chandrasekhar’s wife Soumya told them that the cricketer had tea with his family members at 5 pm on Thursday and went to his bedroom. When he did not open the door after repeated knocking, Soumya peeped through the window to find him hanging from the ceiling fan.

“The cricketer’s wife told us that her husband was depressed due to the losses in his business. We are investigating the matter,” a police official said. Initial reports had suggested that Chandrashekar had suffered a cardiac arrest, but police junked the theory and said it was a suicide.

Police said Chandrashekar had taken a loan of Rs 3 crore to invest in the TNPL team by mortgaging his house. “The losses could be one of the reasons. He seems to have got a notice from the bank recently,” the official said.

Popularly known as VB, Chandrasekhar was a key player of the Tamil Nadu’s Ranji Trophy-winning side in the year 1987-88.

After retiring from cricket, VB served as the South Zone representative of national selection committee and also coached Tamil Nadu’s Ranji side. He also served as cricket manager of IPL team, Chennai Super Kings, and played an instrumental role in the India Cements-owned team buying former Indian skipper M S Dhoni in the famed IPL auction.

Cricket players like Suresh Raina and Harbhajan Singh condoled the death of V B Chandrasekhar. "His consistent efforts made it possible to set the right foundation of the CSK team. He always encouraged & believed in us since very beginning. My deepest condolences to the family," Raina tweeted.

“Very shocking to hear VB Chandrashekhar Indian cricketer is no more..very sad news ..very young to go..rest in peace VB.. Big lose ☹️ condolences to the family,” Singh tweeted. Commentator Harsha Bhogle also tweeted that he was shocked to hear of the passing of VB Chandrashekhar.

“Way too soon. Wish his wife and two daughters the strength to cope,” he wrote on Twitter.