Private company leaves investors high and dry

By A Staff Reporter

IMPHAL | Dec 4

Investors and staff of Living foundation, a microfinance company has threatened to file a legal suit against the chairman of the company who has been allegedly absconding after collective huge amount from the investors.

It has been alleged that the chairman, Soubam Momon, has disappeared without a trace along with about one crore rupees invested by the clients in the company.

Speaking to the media person at the press meet held at press club today, Wahengbam Leima Sana, one of the staffs of the company lamented that they (staffs) have been facing a lot of inconveniences since the chairman went into hiding.

The staffs particularly the agents often have to face the wrath of the angry investors, who are demanding to return the money they have invested, he said.

“Sometimes helpless investors make threats to the agents and staff”, she lamented.

Urging the chairman, branch manager and state co-ordinator, who are absconding to come out without further delay failing which she threatened to file legal suit action them.

The real name of Living Foundation was Real Indian Group which was changed in November 2014 and its head office is at Silchar Assam. There are reportedly seven branches in Manipur including Imphal, Senapati, Bishnupur, Kakching, Nambol, Thoubal and Mayang Imphal.