Chandigarh, April 24: The crisis at Banur-based Gian Sagar Medical College and Hospital reached its tipping point on Monday as hundreds of investors staged a protest against the college’s takeover by Bharatiya Janata Party (BJP) leader Swarn Salaria. They blocked Chandigarh-Patiala highway at 10 am, forcing the police to divert traffic through Mohali and Ambala.
The investors were duped by the 45,000 crore scam hit Pearl Agrotech Corporation Limited (PACL), whose main founder Nirmal Singh Bhangoo set up the college.
President of ‘Insaaf Di Awaaz’ organisation (a body representing duped investors from the region) said every brick of the college was funded by the PACL and hence, they will not let the college be taken over by any third party.
He said Supreme Court in August last year ordered the crime branch of India (CBI) to attach all properties of the PACL and transfer it to justice RM Lodha-led committee so that it could liquidate them and pay back lakhs of innocent investors.
“However, several of Bhangoo’s properties including the college were not yet attached, despite the fact that there were several evidences to prove that the college was set up from PACL funds. It was later handed over to a charitable trust, whose chairman was Bhangoo’s son and later to his daughters,” he said.
Legal advisor Chander Shekhar said valuation of the PACL properties laying so far with Lodha committee is not more than 11,000 crore, which is not sufficient to compensate over 25 lakh investors. “The investigating agencies probing the matter seemed to have deliberately left several properties owned by Bhangoo’s close aides and family members in violation of the SC orders, and we will not let it happen,” he said.
He said valuation of the college property is not less than 1,000 crore. “We will not allow anyone to take over the college. As far as students are concerned, Punjab government should shift them to other colleges at the earliest,” said Shekhar.
Source: hindustantimes.com
