News and Pics from Hemanath Padubidri
for Daijiworld Media Network - Udupi (RD/CN)

Udupi, Aug 5: The office-bearers of Maharastra Apex Depositors Association and along with depositors protested in front of the company office located in Manipal Group of Companies, at Manipal on Monday, August 4, urging the release of third and fourth installments of depositors at the earliest.

Maharastra Apex Corporation Limited, a subsidiary of Manipal Group of Companies, has so far released two installments, and though the third and fourth installments are long due the payment has not been made so far, alleged the protesting depositors. They have demanded payment of the dues by September 30, failing which they have threatened to intensify their protest. 

They plan on gathering together all depositors from across the state, at the company’s headquarters to pressurize them to make the payment as per the High Court ruling of December 15, 2004, which stipulated that Maharastra Apex clear the depositors’ claims in five installments. The protestors urged Manipal Group to dispose off assets owned by Maharastra Apex to settle claims.  

Police security has been beefed up at the Maharastra Apex headquarters by the district administration. R S Bhagawat Kumta, former MLC and president of Maharastra Apex Depositors Association, R G Joshi, and Natraj were amongst the protesters.