BJP to go ahead with Mangaluru Chalo, even if cops deny permission

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.

Mangaluru, Mar 26: About 2,771 people are home-quarantined in the wake of the novel coronavirus in Dakshina Kannada district here, Deputy Commissioner said on Wednesday.

"Meanwhile, about 20 people have completed the mandated 28 days of quarantine, DC Sindhu B Rupesh said in a statement here.

More than 38,000 people from the district have been screened and seven are admitted and are under observation, he added.

Bengaluru, Mar 3: Bengaluru mayor Gautam Kumar on Tuesday said that the decision to ban protests in front of Town Hall was made by the council and not only by him.

"The decision to ban the protest in front of the Town Hall was made by the entire council and not only my decision. Also, the things which are approved by the councillor are also read by the ruling party leaders," Bengaluru mayor told media.

"Still it is the discretion of the Commissioner to take a call after the council also. As of now, we have banned any protests in front of Town Hall," he added.

Meanwhile, Congress leaders staged a protest against Bruhat Bengaluru Mahanagara Palike (BBMP) Mayor Gautam Kumar and BJP at Council BBMP building against the decision.

"If people will start protesting, it will badly affect the traffic of the city," said Kumar, while commenting on the protest. If they want to talk about the matter, let us have a healthy discussion. I don't have a problem with and I don't think the ruling party has a problem too," he added.

On Sunday, pro-Kannada activist and former MLA Vatal Nagraj staged a protest in front of Sir KP Puttanna Chetty Town Hall (Bangalore Town Hall) against the decision taken by Bengaluru mayor.

Talking to reporters, Nagraj had said: "He does not know the history of the Town Hall. It is a historic building and protests can be staged there."

"Mayor's decision is against Bengaluru's tradition and culture, that's why we are condemning it and are protesting against this decision. We will not allow Mayor's programs in Bengaluru and he will be shown black flags", he added.