P.K. Velayudhan, a 53-year-old member of CPI(M) Kolancherry area committee and former president of Vadavucode-Puthencruz panchayat, can hardly sleep these days.
Unless some benevolent people come to his aid in about a week, his family, including two teenage girls, two brothers and their families, would be dumped on the street. His property spread over 27 cents with two houses, including his ancestral home, is in danger of being attached over non-payment of loans running to ₹30.84 lakh.
Desperate, Mr. Velayudhan posted a plea for help on his Facebook account on Tuesday when bank officials were originally scheduled to turn up for measuring the land as a prelude to the attachment but which was eventually put off for another 10 days following his desperate request.
He had taken a loan of ₹12 lakh from two banks for running various entrepreneurial initiatives, treatment and for his sister’s marriage. “However, all the initiatives failed and I couldn’t repay the loan in the past six years. I am not in any financial position to repay the whole amount,” said Mr. Velayudhan, a three-time panchayat member who was the president of Vadavucode-Puthencruz panchayat in the last term.
He is looking to mobilise ₹15 lakh as credit to get his attached property released. He assures to accept the terms set by the lender and to repay the amount within two months by pledging his property afresh.
Mr. Velayudhan used to be a construction worker on contract. But his preoccupation as a people’s representative took a toll on his work. Left with no other alternative to get his life back on track, he is now set to return to that work.
“Being left in the street is beyond what we could take. Anyone can verify with the banks whether things I have shared here are genuine or not” read Mr. Velayudhan’s post, which included the contact numbers of banks and his own mobile number.