CBI raids two income-tax officials in IMA multi-billion investment scam

News Network
December 31, 2019

Bengaluru, Dec 31: The premises of two income-tax officers in Bengaluru were among eight places that the CBI searched in connection with the multi-billion IMA scam, officials said on Monday.

The officers are Saurabh Nayak, then Deputy Commissioner, Income Tax (Investigation), and D Kumar, Assistant Commissioner, Income Tax (Assessment), they said.

The officers are suspected to have favoured IMA founder Mohammed Mansoor Khan and turned "a blind eye" to his questionable transactions, they said. Five places were searched in Bengaluru and one each in Karwar, Salem and Hosur.

The search also covered the premises of three individuals named Asish Jain, Kiran Pamidi and Kaizer Basha, they said.

Nayak and Kumar had searched the IMA offices and assessed its accounts in 2017, but they allegedly did not take action on irregularities in the deduction of TDS on the interest paid by the company and ignored huge cash payment entries in the account books, officials said.

The CBI also found that the accounts of IMA that were frozen after income-tax searches in 2017 were subsequently defrozen. The agency suspects that Khan paid huge bribes to the income-tax officers for the alleged omission.

The CBI probe shows that various entities of the IMA Group had raised illegal and unauthorised deposits to the tune of over Rs 4,000 crore from innocent investors in a dishonest and fraudulent manner, sources said. As on date, over Rs 3,000 crore is outstanding in the form of principal amount and interest in respect of 76,000 investors, they added.

Further investigation is ongoing to unearth the larger conspiracy, the money trail, the end beneficiaries and the diversion of funds, the sources explained.

The CBI has filed two charge sheets against 22 people, including directors, chartered accountants, middlemen and the company and its sister concerns.

The CBI had booked Khan, the IMA founder and managing director, and others after the Karnataka government tasked it with the investigation, the officials said.

The case came to light when Khan fled to Dubai in early June, leaving behind an audio message, saying that he was committing suicide because of "corruption in the state and central governments". Khan was arrested on July 19 upon his arrival in New Delhi by the Enforcement Directorate (ED) and is currently in judicial custody.

He had allegedly promised returns ranging from 2.5% to 3% per month to the mainly Muslim investors in the name of Halal investments. The Karnataka government had constituted a special investigation team (SIT) of the police to investigate the scam before handing it over to the CBI.

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News Network
April 16,2020

Bengaluru, Apr 16: Karnataka Chief Minister BS Yediyurappa on Thursday inaugurated a mobile Covid-19 testing booth in Bengaluru.

These mobile booths will be used in all wards of Bengaluru to collect samples of those suspected to be infected.

According to information available on the website of Ministry of Health and Family Welfare, as of Thursday, 4:00 PM, 279 coronavirus cases have been reported from the state, with 80 cured/discharged/migrated and 12 deaths.

India's coronavirus tally is at 12,380 cases, said the Union Ministry of Health and Family Welfare on Thursday.

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News Network
January 2,2020

Bengaluru, Jan 2: Prime Minister Narendra Modi on Thursday slammed states, which have not enrolled with the Pradhan Mantri Kisan Samman Yojana (PMKSY), saying that such petty politics has done great damage to the farming community.

"I expect that in the new year, those states which are not associated with the Kisan Samman Yojana will at least become a part of it this year," the Prime Minister said at a function in Tumakuru where he disbursed Rs 12,000 crore to six crore beneficiaries under the government scheme in one-go.

Also, he gave away the Krishi Karman Award to the selected farmers and distributed fishing equipment to the chosen ones on the occasion. Modi said political considerations by the state governments in implementing the PMKSY has caused severe loss to the poor farmers.

"Such politics has never strengthened the farmers. Our government understood your (farmers') needs, requirements and your aspirations and accordingly tried to implement the schemes," said Modi.

He further said his government never saw agriculture in fragments but in its totality. Claiming his government has ensured that the entire money reached the poor beneficiaries, Prime Minister hit out at the previous governments, when middlemen ruled the roost.

"There was a time when a rupee was rolled out (by the government) for the poor person, only 15 paise would reach him. The middlemen would pocket the remaining 85 paise. "Today, whatever money is dispatched from Delhi, the entire amount directly reaches the bank account of the beneficiary," he said.

He told the gathering about the various initiatives taken by his government to improve the agriculture sector such as completing the pending irrigation schemes, soil health card and 100 per cent neem-coating in urea.

Due to the initiatives of the government, agriculture production has gone up, he said. Speaking about measures in the fisheries sector, the Prime Minister said the sector has been promoted in the villages, financial help given to fishermen, modernisation of boats and building fisheries-related infrastructure have been done.

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News Network
February 16,2020

Bengaluru, Feb 16: Three students from Kashmir studying at a private engineering college in Hubballi district of Karnataka were arrested on sedition charges for allegedly raising pro-Pakistan slogans and posting a video of it on a messaging platform, police said on Saturday.

Police said, according to preliminary information, the students are from Shopian in Kashmir and action has been taken on the basis of a complaint from the college management.

"We received information that three students hailing from Kashmir studying at the KLE Institute of Technology had raised slogans supporting Pakistan. They had made a video about it which has gone viral. Immediately our team headed by Inspector Gokul Road station went to the spot and arrested them," Hubli-Dharwad Police Commissioner R Dileep said.

Right wing activists, including those from Bajarang Dal who had gathered near the college, demanded stringent action against the three.

As the students were being taken to the police station with their faces covered, an activist tried to attack them, but police escorted them safely.

The FIR has been lodged under IPC sections relating to sedition and affecting communal harmony, the official said.

"We are investigating, and whatever comes out as per evidence, law and facts, we will take further action. We will look into their background, whether anyone has tried to mislead them," Mr Dileep said, adding that the arrest should not be seen as action against any particular community or region.

According to officials, the selfie video of the three has gone viral as they posted it on WhatsApp. In the video one of them can be purportedly seen initially uttering something with background music on, after which they chant ''Azadi'' one after the other. Then joining chorus to the music that is playing, they purportedly say "Pakistan Zindabad."

The music they played is said to be Pakistani military's media wing, the Inter-Services Public Relations (ISPR) song, which police said needs to be ascertained.

The video seems to have been recorded at the college hostel, where the students were put up. College principal Basavaraj Anami said the college has given complaint to the police and the students will be suspended.

The students were admitted under central quota and two are doing their first year civil engineering, while the other is a third year student in the same stream, he said.

According to him, the three had made the video and posted it on WhatsApp.

"It came to our notice in the morning, following which I called the students immediately to my office, and informed the police," the principal told reporters.

"In the video, they have purportedly shouted pro-Pakistan slogans allegedly in the backdrop of the Pulwama attack anniversary yesterday," he added.

Union minister Pralhad Joshi, who hails from the district, described the act unfortunate and demanded strict action against those involved.

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