MADURAI: Prime Sristi Housing Private Housing Ltd, developer of the multi-storeyed building ‘Trust Heights’, has been in the real estate business for more than a decade and most of the employees on contract were from the southern districts of the State.
A former employee of the builders, on the request of anonymity, said the builders have vast experience in the field and have a strong political back-up. The former employee also stated that most of the workers they recruit are from Madurai, Theni and Chettinad areas.
Prime Sristi was incorporated as a private company in January 2007 and registered under the Registrar of Companies.
Initially, the company was started with an authorised share capital of `50 lakh and paid-up capital of `50 lakh. Though the company is limited by shares, it is not listed on the share market. The builders have a registered office at Vinayaka Nagar in Madurai and a corporate office on R K Salai at Valasaravakkam, Chennai. There are four directors — Meenakshi Sundaram Balagurusamy, Meenakshi Sundaram Ponnupappa, Muthu Kamatchi Manohar and Manohar Muthu Kamatchi.
The builders had created a Facebook book page to promote the residential project ‘Trust Heights’ at Porur, which collapsed on Saturday evening, and they were updating each development of the project. There were updates only up to the second floor of the building and after that there was no update for reasons best known to them. According to sources, though the company was registered seven years ago, the builders were functioning in Madurai and Tiruchy for over 20
years and they have also been contractors to a few government projects in the DMK regime.
Further, it is alleged the owners of the company were associated with two former Union Ministers but there is no substantiating evidence that the politicians were also part of their business. According to sources, a team of police from Chennai arrived in Madurai to scrutinise the registered office.