more-in Over 200 depositors and field workers of a Madurai-based land promoter submitted at petition at the Collectorate here on Monday, alleging that the promoter had collected money from them and failed to return it. The petitioners said they had paid a fixed amount in instalments for a certain period from June 2006 and they had received the benefits till June 2015. But, they did not get any benefits after that and their deposit was not returned. It was alleged in the petition that the firm had collected ?1,137 crore from 12.27 lakh depositors across the State, and had cheated most of them. A case was filed in 2017 in the Madras High Court, which then appointed a retired Judge to sell the assets of the company and return the money to the depositors. But, even a year after they did not get their money. Many had paid to buy land while some others deposited money for interest. Stating that they put all their savings in the firm, the petitioners appealed for steps to get their money back. They said that other firms owned by the land promoter should also be included in the case so that their assets could also be sold and the money could be returned to the investors.

Stay updated with all the Coimbatore Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.