Sahakara Sarige property taken over
The Hindu
It was unable to repay loan instalments owing to financial difficulties
A private finance company has taken over the property of Sahakara Sarige (Transport Cooperative Society) at Koppa, against the loan it had offered to the transport company. In the presence of Koppa tahsildar, the office was locked up and the keys were handed over to the representatives of Srirama Transport Finance Company on Tuesday. Sahakara Sarige earned name Statewide for offering transport services in Malnad region on cooperative principles. Sahakara Sarige had borrowed ₹ 1.2 crore from the finance company mortgaging its property in Koppa. It could not pay a few instalments in the recent past as it suffered loss and could not operate its services. The finance company moved court and got an order to take over the property.
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