250 people paid Rs 12cr for sites, now left in lurch

At least 250 employees of a state-owned financial institution Karnataka State Financial Corporation (KSFC) have alleged that they have not been allotted sites for which they had paid a cumulative amou

Published: 09th November 2017 01:47 AM  |   Last Updated: 09th November 2017 08:39 AM   |  A+A-

By Express News Service

BENGALURU: At least 250 employees of a state-owned financial institution Karnataka State Financial Corporation (KSFC) have alleged that they have not been allotted sites for which they had paid a cumulative amount of `12 crore in 2008.Uma Devi, a manager at KSFC, has lodged a complaint at High Grounds Police Station against several people. She had invested `5.5 lakh for the site.

Mohanesh Kumar, one of the employees, said that a payment of `12 crore had been made in 2008 to Sree Associates and Developers owned by one Pillanna. “We were promised that the sites would be allotted by a year’s time. We were also promised interest on the amount we had paid,” he said.
However, the employees found that no formal record existed of the payments made. In addition, the land where the new sites were to be allotted was still classified as agricultural land. Mohanesh added that since 2008, Pillanna kept postponing the allotment.

Mohanesh alleged that Pillanna had illegally allotted sites meant for the employees to four different housing corporations as well as to individuals.“When we ask for interest on our principal amount, he speaks gruffly, intimidates us and asks us to take back our principal amount,” Mohanesh added. The FIR filed primarily accuses five people.

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