KATHMANDU: Property worth Rs 2 million was reduced to ashes when a cotton factory in Naikap, Chandragiri-22 on the western outskirts of Kathmandu caught fire on Thursday. The factory operated by Raju Ranjitkar (28) from Inaruwa, Sunsari at a metal-roofed hut had caught the fire after an electronic short circuit yesterday. Police are looking into the case.