Investors in a property developer company blocked the busy Mettur Road on Wednesday morning demanding that the company settle the matured amounts immediately.
The protestors relented after police intervened and secured assurance from the local official of the company that the settlements would be made by mid-April.
Under its land investment scheme, the company, which has branches in different parts of the country, had raised funds from low-income investors in the region promising high interest rates.
The Erode branch of the company has been functioning for the last five years, investors in the company said.
Last August, the Securities and Exchange Board of India (SEBI) had ordered the company to return the funds it had raised as the company had not registered its land investment scheme.
The company had received deposits in instalments and in lump sums, guaranteeing returns after a fixed tenure.
