Potato Growers Society seeks govt help to regain control of Sissu hotel

KCCB seized the property last month over unpaid loans of Rs 9 crore

Tribune News Service

Mandi, Updated At : 07:33 AM Oct 22, 2024 IST

The Lahaul Potato Growers Society holds a general house at Keylong to discuss key issues on Sunday.

The Lahaul Potato Growers Society (LPGS) has appealed to the state government for financial help in regaining the control of Chandermukhi hotel at Sissu in Lahaul and Spiti district. Kangra Central Cooperative Bank (KCCB) had taken control over the hotel last month due to unpaid loans of Rs 9 crore. The society, having around 2,400 members, held a special general house on the issue at Keylong yesterday.

Under the leadership of executive president of the LPGS Mangal Chand Thakur, the stakeholders discussed strategies to seek financial aid from the state government. The meeting arrived at a consensus that the society representatives should approach Chief Minister Sukhvinder Singh Sukhu and the State Cooperative Minister to secure the necessary financial support.

“We want KCC Bank restores the hotel to us,” said Mangal Chand. He added that a delegation, led by Lahaul and Spiti MLA Anuradha Rana, would go to Shimla to meet with the Chief Minister and Deputy Chief Minister Mukesh Agnihotri to seek financial assistance.

He said that the Kullu Deputy Commissioner had held up Rs 4.32 crore generated from our Raison property. “We will urge the Chief Minister to release these funds, which will help us repay a portion of our bank loans,” he added.

According to former president of the society Sudershan Jaspa, the financial troubles of the Lahaul Potato Growers Society began after it took a loan of Rs 6.25 crore for the construction of the hotel. “A combination of mismanagement and failure on the part of the society to meet repayment deadlines led to a ballooning debt, and the current liabilities, including interest, are around Rs 1.25 crore per month. Despite the hotel’s previous annual income of Rs 45 lakh, the society’s financial mismanagement rendered it unable to sustain operations, prompting the KCCB to seize the property after issuing several notices for overdue payments,” he added.

Mangal Chand expressed the society’s desperation, stating that if the state government provided no relief, they may have to request it for permission to sell the hotel to repay the debt.