No evidence of terror link: 10 Muslim youths released by Delhi police

Bengaluru, June 24: City-based I Monetary Advisory (IMA), which duped thousands of families, mostly Muslims, in the name of halal investment, has become a bitter reality of "we were robbed by our own people". All the accused except its CEO Mohammad Mansoor Khan have been released on bail in this ponzi scam worth thousands of crores of rupees.

The scam has not only been investigated by SIT and CBI, but it has reverberated many times in the Assembly, corridors of power, and in the courts.

Around 80,000 investors are in trouble after the Monetary Advisory (IMA) scam came to light. Many investors have left this world, many families have split, many marriages have broken down and many have become unemployed, homeless, helpless and hapless. One of the senior IAS office, who had faced arrest in the scam, reportedly killed himself just a day ago.

It has been more than a year since this multi-billion scam came to light. But the affected families still do not see any ray of hope. The government, led by senior IAS officer Harsh Gupta, has set up a special competent authority to address investor grievances in the matter.

According to information provided by Harsh Gupta, investors have to be paid Rs 2,900 crore. But the value of the company's assets seized so far could be around Rs 450 crore. The process of auctioning the assets has not started yet. The authority has developed an online portal for submission of claim forms from investors. But the process of taking applications has not started yet. Syed Gulab, a social worker overseeing the case, says that after all the claim forms have been submitted, we will get a clear picture about the exact number of investors and the total amount of arrears. But this process may take a few more months to complete.

Senior journalist Maqbool Ahmed Siraj says that IMA has systematically deceived people in the name of halal investment through capital scheme. In 2006, Muhammad Mansoor Khan, a one-time small businessman, set up a company. He began to attract large number of investors by creating the greed for more profit among middle class and poor people.

By 2015, the company had received money from more than 12,000 investors and continued to pay monthly profits. By the time the company closed in 2019, 80,000 people had invested their hard-earned money here. In Bengaluru, the company expanded its reach by investing in two major gold showrooms, hospitals, schools, several medical stores, a publishing center, a supermarket, and real estate firm.

Mr Siraj says that Mansoor Khan and his team not only lured the poor and middle class to pursue their own interests but also created a favourable atmosphere for their so called business by winning the hearts of politicians, government officials, clerics, religious institutions and media.

Unsuspecting people invested their money in a bid to make more profit in less time. When the company stopped making profits and Mansoor Khan suddenly fled on June 9, 2019, the investors woke up the to the reality.

Apart from residents of Bengaluru and other parts of Karnataka, people from Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra other states also have invested their money.

Like most of the political phenomenon, even the practice of Nationalism is not a static one. It changes with the changing political equations of the political forces and assumes the expressions which are very diverse. As such the phenomenon of Nationalism has a long journey and various state policies in particular have used it for purposes which relate more to the power of the state ‘vis a vis’ its people, power of the state ‘vis a vis’ the neighboring countries among others.

In India there has been a certain change in the practices of the state which have transformed the meaning of Nationalism during last few years. Particularly with BJP, the Hindu Nationalist outfit gaining simple majority, it has unfolded the policies where one can discern the drastic change in the meaning and application of Nationalism in regard to its citizens, particularly those belonging to minority community, with regard to those who are liberal, and with those who stand with the concept of Human rights.

Our former Prime Minister of Dr. Manmohan Singh hit the nail on the head when he said that “Nationalism and the "Bharat Mata Ki Jai" slogan are being misused to construct a "militant and purely emotional" idea of India that excludes millions of residents and citizens. Former Prime Minister recently stated this in an apparent attack on the BJP.” The occasion was the release of a book, ‘Who is Bharat Mata’, edited by Purushottam Agarwal and Radhakrishna. This is a compilation of significant extracts from writings of Nehru, and important assessments of and contributions of Nehru by prominent personalities.

Dr. Singh went on to add "With an inimitable style…Nehru laid the foundation of the universities, academies and cultural institutions of Modern India. But for Nehru's leadership, independent India would not have become what it is today," This statement of Dr. Singh has great importance in contemporary times, as Nehru is being denigrated by Hindu nationalists for all the problems which India is facing today and attempts are on to undermine his role and glorifying Sardar Vallabh Bhai Patel. This is also significant as it gives us the glimpses of what Nationalism meant for Nehru.

As Singh’s statement captures the present nationalism being practiced by BJP and company, the Hindu nationalists, immediately shot back saying that Dr. Singh is supporting the anti India activities at JNU and Jamia and his party is supporting the anti India nationalists. They asked whether Singh likes the nationalism of the likes of Shashi Tharoor or Manishankar Ayer who are provoking the Shaheen Bagh protest rather than making the protestors quiet. Whether he likes the anti national protests which go on at JNU or Jamia? As per them there is no Nationalism in Congress. One more example being cited is the private visit of Shatrughan Sinha who talked to Pakistani President during his visit there recently!

Most of the arguments being used to oppose Dr. Singh are very superficial. What is being referred to; is not opposition to Indian nationalism and its central values which were the core of anti colonial struggles. While ‘Bharat Mata Ki Jai’ may not be acceptable to a section of population, even the book he was releasing has the title ‘Who is Bharat Mata’. What is being stated by Singh is the twist which slogan ‘Bharat Mata ki Jai’ has been used by Hindu nationalists to frighten the religious minorities.

Indian nation came into being on the values, which later were the foundation of Indian Constitution. Indian Constitution carefully picked up the terminology which was away from the concepts of Hindu or Muslim nationalism. That’s how the country came to be called as ‘India that is Bharat’. The freedom of expression which was the hallmark of freedom movement and it was given a pride of place in our Constitution. It respected the diversity and formulated rules where the nation was not based on particular culture, as Hindu nationalists will like us to believe, but cultural diversity was centrally recognized in the Constitution. In addition promoting good relations with neighbors and other countries of the World was also part of our principles.

JNU, Jamia and AMU are being demonized as most institutions so far regard the freedom of expression as a core part of Indian democracy. These institutions have been thriving on discussions and debates which have base in liberalism. Deliberately some slogans have been constructed to defame these institutions. While Constitution mandates good relations with neighbors, creation of ‘Anti Pakistan hysteria’ is the prime motive of many a channels and sections of other media, which are servile to the ideology of ruling Government. They also violate most of the norms of ethical journalism, where the criticism of the ruling party is an important factor to keep the ruling dispensation in toes.

A stifling atmosphere has been created during last six years. In this the Prime Minster can take a detour, land in Pakistan to have a cup of tea with Pakistan PM, but a Congress leader talking to Pakistani President is a sign of being anti National. Students taking out a march while reading the preamble of Indian Constitution are labeled as anti-national; and are stopped while those openly wielding guns near Jamia or Shaheen Bagh roam freely.

Nationalism should promote amity and love of the people; it should pave the way for growth and development. Currently the nationalism which is dominant and stalking the streets has weakened the very fraternity, which is one of the pillars of our democracy. Nehru did explain that Bharat Mata is not just our mountains, rivers and land but primarily the people who inhabit the land. Which nationalism to follow was settled during the freedom movement when Muslim nationalism and Hindu nationalism were rejected by the majority of people of India in favor of the Nationalism of Gandhi, Nehru, Patel and Maulana Azad, where minorities are equal citizens, deserving affirmative action. In today’s scenario the Hindu nationalists cannot accept any criticism of their policies.

May 11: The Karnataka government appears set to roll out red carpet welcome to foreign companies seeking to move out of China.

The State's Large and Medium Scale Industries Minister Jagadish Shettar said the Government plans to constitute a task force, under the Chairmanship of the Chief Secretary T M Vijay Bhaskar, to spearhead the drive to attract such investment. A proposal to this effect has been sent to the Chief Minister B S Yediyurappa for approval, the Minister told PTI in an interview.

This panel would take feedback and suggestions from a consultative committee to be formed with prominent industrialists from the State and representatives of various countries located here, Shettar said.

In recent days, the Minister held consultations with industrialists such as co-founder and Non-Executive Chairman of Infosys Ltd, Nandan M Nilekani, Executive Chairperson of Biocon Ltd, Kiran Mazumdar-Shaw and Chairman of early-stage startup accelerator and venture fund Axilor Ventures Senapathy (Kris) Gopalakrishnan to fine-tune the States outreach push.

Shettar also held interactions with industry bodies, including Confederation of Indian Industry (CII), the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), Bangalore Chamber of Industry and Commerce (BCIC) and Karnataka Small Scale Industries Association (KASSIA).

Industrialists who took part in the deliberations suggested to the government to focus on ease of doing business and improving the single window clearance system for approvals, as the Minister spelt out government's intent of further improving the investment climate to attract industries to Karnataka.

To boost the industry sentiment in the State, they also stressed the need on easing land acquisition regulations, and leveraging the knowledge base of Bengaluru to promote technology-based manufacturing.

"Given the interest shown by some companies in moving their manufacturing bases out of China, the industry leaders recommended that the State government identify a target list of 100 firms to reach out to for attracting to the State, and work out a strategy to bring them to Karnataka," an Industry department official said.

The industry leaders assured cooperation from the private sector in reaching out to and facilitating interactions with CEOs of these companies.

Shettar said restrictions on acquisition of agriculture land for starting industries have now been relaxed with the passage of an amendment to the land reforms act in the recent Legislature session.

This would facilitate immediate land allotment to industries, he added.

The Minister has also submitted a proposal to the Chief Minister on relaxing labour laws.

Secretary General of industry body ASSOCHAM, Deepak Sood, told news agency recently that there is a broader consensus that the global manufacturing supply chain would be more spread than concentrated in major economies like China.

"If India comes out of the present crisis with minimum of impact, we can be the destination of choice for the global manufacturing giants in different sectors like electronics, computer hardware, pharmaceuticals, including medical devices, automobile, including components and other engineering products," Sood had said.

Gopalakrishnan, also co-founder of Infosys and former CII President, said India has to target companies which have operations in China, reach out to them, understand what their needs are and hold discussions with them.

"We have to make sure that their requirements are addressed, be it with regard to land, office space, faster approvals, and some concessions on local taxes. It depends on the businesses that the companies are in, and if we are able to respond to those requests, I think we will be able to attract them", he told news agency.

"All states will compete for this business (foreign investment)," Gopalakrishnan added.