A city businessman on Thursday hanged himself after failing to exchange Rs 12 lakh of demonetised currency notes, which he had been saving up to buy a flat, police said.The body of 25 year-old Virendra Kumar Basoya was found hanging from a fan in his rented accommodation in Rajupark at Khanpur here."No suicide note was found. Necessary legal action has been initiated," Additional Deputy Commissioner of Police, Nupur Prasad said.According to police, Virendra used to run an electronic goods shop and was also into part-time money lending. His pregnant wife Ronak said Virendra was acutely depressed after failing to exchange Rs 12 lakh which he had been saving to buy a flat of his own. "He visited several banks almost everyday but could not manage to exchange the old notes," said Ronak. The wife said that Virendra, a few days back had contacted a man who demanded Rs 4 lakh as commission for exchanging the Rs 12 lakh. We celebrated our marriage anniversary only last week. He was planning to buy a flat soon in Malviya Nagar for which he was saving money from last year," added the wife.