Sunday, September 21, 2014

Another PC House land seized by bank

Hatton National Bank has seized another land owned by PC house after the company failed to pay bank loans reports say. The seized property is located at No. 451, Galle Road, Kolpetty.

At the present several properties of the company have been seized by banks thus. Also, shares owned by the company's founder - Mohommad Rishan and his affiliates too, are reportedly being taken over by other external parties.

According to reports, PC House has become the next isted company to collapse after a similar debacle in Touchwood Investments PLC. Meanwhile, the listed financial company CIFL too is facing a crisis due to lack of accounts details pertaining to 04 quarters.

PC House listed as the first IT company in the CSE in a backdrop where its founders faced many alleges. Also, certain stock brokering companies too, are blamed for the company's fall.

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