Wednesday , 23 April 2014
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TSS to go under hammer


>>Not many have forgotten the name Travancore Software Solutions. Some had fell victims of its cheating. TSS, the company which once defamed the entire Technopark with its fraudulent activities, is now facing auction. A notice posted at the Technopark premises says that the auction, originally planned on January 15 is postponed to January 29. Office equipment of the TSS will be auctioned as per the directive of Vanchiyoor court based on the complaint filed by State Bank of Travancore.
The company had borrowed loan worth nearly Rs 10 lakh for furnishing the office. The SBT is planning to attach the office and auction the office equipment to regain some lost money. Those who are interested in the auction can visit the office on January 27 to assess the value of equipment.
TSS was asked to quit Technopark in December 2007 when its cheating came into limelight. Company CEO Shyam Subrahmaniyan is facing trial for cheating.
The SBT have found ways to regain its money, what about its former employees who fell victims and paid lakhs as deposits and worked for meager salary. Who will give them solace?

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