Chikkamagalur: Sahakara Sarige, a decades-old famous private bus transport service here is being shut down under a heavy police presence.
The company, which owns 72 buses, had stopped operating last year due to huge losses.
Sahakara Sarige had borrowed Rs 1.10 crore from Shriram Transport Limited but was unable to repay the amount.
Hence, the company was foreclosed due to the non-repayment.
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The transport company, employing more than 200 people, had gained immense popularity especially in rural areas of the district.
An appeal was made to the chief minister by many of the district’s residents to save the company but to no avail.
