Today, a group of people marched to the Collectorate to file a petition against PACL India Ltd, a finance company at RS Puram.
The petitioners claimed that the finance company had promised them with attractive savings schemes with high-interest rates. The investors were lured by the interest and hence deposited their money in the Company for which they were provided with official receipts and documents.
The company officials assured the investors on timely return of their principal along with interest, after a three months notice period.
A few investors approached the company for settling their money, who were apprised by the finance company that due to some on-going judicial procedures there could be a small delay in settlement.
The authorities have been reiterating the same reasons for months together, which enraged the investors with a feel of premonition on the reliability of the company.
They lodged a complaint at the RS Puram Police Station and were shocked to learn that the finance company has shut down its operations.
Hence, they have requested the District Collector to take action against the Company and help them retrieve their hard earned money back.
The petitioners claimed that the finance company had promised them with attractive savings schemes with high-interest rates. The investors were lured by the interest and hence deposited their money in the Company for which they were provided with official receipts and documents.
The company officials assured the investors on timely return of their principal along with interest, after a three months notice period.
A few investors approached the company for settling their money, who were apprised by the finance company that due to some on-going judicial procedures there could be a small delay in settlement.
The authorities have been reiterating the same reasons for months together, which enraged the investors with a feel of premonition on the reliability of the company.
They lodged a complaint at the RS Puram Police Station and were shocked to learn that the finance company has shut down its operations.
Hence, they have requested the District Collector to take action against the Company and help them retrieve their hard earned money back.