Dawood Ibrahim's properties worth $6.7 billion frozen by British authorities: Report

Bengaluru, Mar 5: The Karnataka government has constituted a competent authority for I Monetary Advisory (IMA) cases under the KPIDFE (Karnataka Protection of Interest of Depositors in Financial Establishments) Act, 2004, which is required to call claims from erstwhile depositors of the IMA group of entities under the provisions of the Act, said Harsh Gupta, Special Officer and Competent Authority for IMA cases.

In order to ensure transparency and to avoid harassment to the claimants, an online application software has been developed for accepting claims from the depositors, Gupta stated.

"The claim application can be filed from any of Banglore-1, Karnataka-1 and Seva-Sindhu Kendras of the state government in person or through online. The required documents can be submitted using e-attestation along with claims or at a later date, but prior to the claim settlement. The details of authorities for e-attestation will be informed later," the official stated.

The claimants will have to provide Aadhaar authentication based identification or identification by the designated officer based on alternate documents; current mobile number and address among others.

The details of the draft claim filing process has been put for public feedback on website 'imaclaims.karnataka.gov.in'. The depositors can give their feedback on the website, WhatsApp number or email, Gupta stated.

Based on feedback received from the depositors, the claim process and the claim application software will be finalised, the official said and further informed that the start date for acceptance of claims will be informed through wide publicity at a later date.

"There will be a total time period of 30 days for submission of the claims from the start date of acceptance of claims," Gupta said.

An SIT was investigating the multi-crore IMA Jewels case, where the firm had allegedly cheated a large number of investors after promising them impressive returns on their deposits. The SIT has already arrested several government officials and questioned others including politicians in the matter.

The prime accused and Managing Director of IMA Mohammed Mansoor Khan, who had fled the country after several complaints were registered against him in connection with the scam, has also been arrested.

The state government had constituted an SIT to probe the scam when it first came to light in June earlier this year when more than 4,000 investors trooped outside the showroom after an audio clip purportedly recorded by Khan went viral.

Mangaluru, Feb 29: The state general assembly (SGA) of Karnataka unit of the Popular Front of India was held from February 27 to 29, 2020 at Puttur in Dakshina Kannada district wherein new functionaries were elected for the next two years.

Yasir Hasan was elected president of the state unit of the organisation while Nasir Pasha was elected general secretary. Ayub K Agnady, Mohammed Sharief and Shahid Nasir were elected vice president, secretary and treasurer respectively.

The state executive committee members are: Abdul Khader, Abdul Majeed, Sharief Kodaje and Mohammed Tafseer.

The SAG commenced with the hoisting of flag by outgoing president Muhammad Saqib on February 27. The three day meeting analyzed the growth and activities of the PFI for the past two years. It was observed that the organization has received positive acceptance among the society.

Mumbai, May 19: Even as banks in United Arab Emirates are trying to trace NMC founder BR Shetty, a prominent bank in India is seeking to recover loans worth Rs19.13 billion from him and his companies. 

A local court has also barred him and his wife from selling or transferring some properties while it hears the case.

In the court filing, the Bank of Baroda said Shetty had an obligation to handover the title deeds of the 16 properties and mortgage the assets with the bank.

The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the Rs19.13 billion ($253 million) loans, according to a May 16 court order seen by Reuters. The court in Bengalaru set the next hearing in the case for June 8.

NMC, the largest private healthcare provider in the UAE, was placed under administration in April after months of turmoil. It disclosed in March it had debts of $6.6 billion, well above earlier estimates of $2.1 billion.

Finablr, in which Shetty has a controlling stake, said in April it may have nearly $1 billion more in debt than previously reported.