A fire broke out at a woodwork factory in Parimpora area of Srinagar, destroying wooden work, machinery worth lakhs.
The incident took place late last night.
Fire tenders were rushed to the spot which took more than an hour to douse the fire, witnesses told KNT.
The factory is owned by one Mir Muhammad Asif who said the wooden work including paneling worth over 30 lakhs were destroyed in the fire incident.
Mir said short circuit may be the cause of the fire.
Meanwhile, police registered a case and set investigation into motion.