Legal action sought against Yashaswini Housing Co-op Society

Mysuru, January 11:- Gullible public who have invested for sites in Yashaswini Housing Co-operative Society of the city have demanded legal action against it which has collected Rs 80 crore from the people without providing any site.

The protesters, who had gathered in front of deputy commissioner’s (DC) office here on Friday, said that the administration of the society gave EMI option with bank loans and collected over Rs 80 crore from more than 1,200 people. They said that they haven’t given site to even a single person. They alleged that the housing cooperative society has not even conducted an election to the board and have not done the auditing as well. There is no information to the investors. They alleged that the board didn’t provide a site and not even returned the money to the investors.

The protesters said that the board directors erected boards saying the property belongs to the board which actually belonged to others. They also alleged the directors making their wives as developers to withdraw money and misuse it. They also alleged that some sites were registered in some persons’ names. They alleged that the government officials were not investigating the issue even after repeated complaints. They alleged that the directors of the cooperative board have been making allegations at each other over the past 7-8 years. They said that protests held in front of the office of the board have been of no use. They also alleged of real estate mafia was behind it. They also alleged that the transactions of the board have been illegal. The protesters urged to government to cancel the present housing board members and appoint administrative officers and hold a thorough investigation to punish the miscreants. (MR/KS)

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