BERHAMPUR: Hundreds of investors of a private finance and construction company in Orissa are now in a panicked state with the fear that their hard earned savings may get swindled.

The company named `Seven Hills Pvt Ltd.' has its headquarters in the city. The members of the action committee of investors reached the office of the Berhampur Superintendent of Police (SP), Dayal Gangwar, on Tuesday.

In the presence of the SP, the Managing Director of the company, M. S. Srinivas Rao and leaders of the panicked investors signed an agreement.

As per the agreement the company would return fixed deposit and recurring deposit amount to the investors within six months.

The persons who have invested in the company to get homestead land or built up houses would get them within next four months.

`Land not given'

People had invested in this company through fixed deposits to get their money doubled in 55 months. Similarly investments were made through recurring deposits for five years. Even after maturity the company did not return money to the investors.

Similarly the investors in the housing schemes of the company were also not handed over land or house even after they paid up the whole amount through instalments. Some investors like P. Rama Rao Patro alleged that the plots allotted to investors were at times found to be already sold out. They also alleged that they were threatened when they pressed to get back their due amount.

Having no other way out the investors had to approach the police. Few days ago they filed 50 FIRs accusing the company of cheating them at the Baidyanathpur police station. Earlier 12 others had filed similar FIRs against the company in the city.

They have already written to the chief minister's office about their plight at the hands of this private company. But police is yet to arrest any one of the company.

The investors allege that the chairman and MD of the company are trying to transfer the property accumulated by them to their relatives' name to declare the company bankrupt so that they may not have to return back the hard earned savings of people.

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