No faith in KELSA, say Apple A Day investors

KOCHI: The investors of Apple Ice, Apple New Kochi and Apple Suite projects, submitted before the Kerala High Court that they had no faith in the mediation process initiated by the Kerala State Legal Services Authority (KELSA), in the Apple A Day property scam.Justice Antony Dominic, while considering a wind-up petition filed by the investors, asked them to file objections, if any, regarding the report filed by the KELSA before the court on the mediation process.The investors submitted that the KELSA deliberately avoided several incidents that happened during the mediation process, from its report.“Some of the investors had boycotted the mediation process. This is not mentioned in the report. “A minimum amount of Rs 30 crore should be deposited before initiating any compromise. “Without this, we are not prepared for the process of mediation.“The directors of the company had submitted a surety of `2 crore before the KELSA, but the amount is insufficient to complete the construction of the 19 pending projects,” the investors submitted.