fbpx
Join eProperty WhatsApp Channel

Join Pakistan’s Most Popular Whatsapp Channel for Property New Updates and Daily Prices

HOT | PLOTS | BOOKINGS | UAN: 03 111 042 111

eProperty®

Learn, Share & Grow

Buy DHA Lahore Phase 10 Files

Society management confess to allegations in clarification

Islamabad: The T&TECHS management in a clarification issued on Tuesday confessed most of the allegations. The clarification stated, “the members had approved the investment in various AGMs allowing President of the society unconditionally to invest the funds as per his skill”. In the clarification the management further stated, “President of the society is determined to return the invested amount with interest in phased manner upon disposal of assets. Current market situation is not favorable even then those assets have put for sale”.

It is further stated that as far as investment of Rs 37,500,000 was concerned it was invested against a guarantee of 200 kanals of land in Islamabad district and a case in this regard was in the court of law for decision.

But the sources said the president had given the contract to his own company M/s TSS and now company has failed to pay back the investment. They said there chances to get the investment back were bleak.

They said the actual investment amount was Rs 254500000 (Rs 3,75,00,000 long term investment and Rs 21,70,00,000 short term investment), which showed that land has been considered worth of Rs 1272500 per kanal, but in the clarification the society declared its own land worth of Rs 189,189 per kanal clearly showing that the land mortgaged as guarantee was over estimated. staff report

Source: Daily Times

Society management confess to allegations in clarification
eProperty WhatsApp Community

Join the eProperty Community for daily Pakistan Property rate updates, the latest developments, and news.

eProperty WhatsApp Community

Property buying and selling was never easy before; simply connect with our WhatsApp hotline for absolutely free property consulting. Please save this number, +923111042111 in your contact list to get regular updates from us; otherwise, you will not receive any updates.

Society management confess to allegations in clarification
Scroll to top
Open chat
WhatsApp Hotline
السلام عليكم ورحمة الله وبركاته

مہربانی فرما کر ہمارا نمبر 00923111042111 اپنے موبائل کی رابطہ لسٹ میں محفوظ کر لیں۔ اگر یہ نمبر آپکے موبائل کی رابطہ لسٹ میں محفوظ نہی تو آپ کو ہماری طرف سے تازہ معلومات موصول نہی ہوں گی۔

Kindly save this number in your contact list for future updates. You will not received our WhatsApp updtaes if this number +923111042111 is not saved in your contact list.

Atif Iqbal from eProperty®