This NRI business tycoon in Dubai buys number plate for Rs 60 crore!

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.

Bengaluru, Jul 6: As COVID-19 cases continue to surge in Karnataka, more than 20 police stations were sealed in Bengaluru after many policemen tested positive for novel coronavirus.

"Since the last few weeks, the number of COVID-19 cases in the police department has increased as many of the policemen have tested positive, so that's the reason why the police have taken a decision to close police stations," Bengaluru Commissioner of police Bhaskar Rao said.

He added, "However, people can lodge their complaints and other issues can be solved in help desks launched outside premises of the police station. Most of the areas where positive cases found in the police station are been sealed down for the safety of the people and sanitised them."

However, some of the police stations would be functional from outside the premises.

Commercial Street, Cottonpete, Chickepete, KG Halli traffic police station are among the few stations closed due to scare of the coronavirus spread after some policemen tested positive in particular stations.

Rao further said that the traffic police, civil police along with home guards have been given safety gloves, face masks, and sanitizers along with face covers by the department of police.

According to the Union Health Ministry, 23,474 COVID-19 cases have been reported in the state, as of Monday.

Mangaluru, May 31: A yellow alert has been sounded in eight districts of Karnataka, amidst the Indian Meteorological Department’s (IMD) prediction that the low pressure area formed over Arabian Sea and Lakshadweep may to intensify further into a cyclonic storm.

The yellow has been sounded in Dakshina Kannada, Udupi, Uttara Kannada, Chikkamagaluru, Kodagu, Hassan, Shivamogga and Chamarajanagara till June 1.

Moderate to heavy rain is expected to lash parts of coastal Karnataka today and tomorrow. 

The IMD has assessed that the situation is favourable for the onset of southwest monsoon. In view of the enhanced cloud cover and the deepening of southwesterly winds up to mid tropospheric levels, the southwest monsoon advanced further.

The IMD has also advised fishermen to avoid fishing in west coast of India from May 31 to June 4.