Excelsior Correspondent
RAJOURI, Apr 29: Investors stalled an attempt of secretly selling immovable property by a defaulting Finance Company in the town.
Besides moving an application in the Court seeking direction against the Finance Company restraining it from secret sale of its property, the agitated investors also held a strong demonstration here today.
They raised slogans against the company named Vikrant Finance Company and also torched an effigy of its owner Kewal Koul. Alleging that the owner was associated with ruling Congress, they also appealed PCC chief Prof Saif-ud-Din Soz to expel such elements from the party.
According to reports, the said finance company was declared defaulter around six months ago following which it reached out an agreement with the investors to pay back their money, approximately Rs 8.5 crore, in installments. A six-member committee of the investors and prominent citizens was also constituted for the purpose.
However, two days back, some investors came to know that Kewal Koul in connivance with one of the committee members, a Junior Engineer in PWD, was secretly selling his two houses worth Rs 80 lakh each. In the sale deed, these houses were being sold by mentioning their value at Rs six lakh only.
After coming to know about the development, the investors reached the court today and stalled the sale process. They also moved an application in the court seeking direction against any such sale by the finance company in future.
Yogesh Sharma, one of the committee members, urged the administration to take cognizance of the case for necessary action so that innocent investors are not duped by the finance company.
When contacted, SP Rajouri Mubassar Latifi said that Police have not yet received any formal complaint by the investors, who had decided to solve the matter on their own after the finance company was declared defaulter. We will take necessary action if the investors approach police, he added.
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