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ED attaches 20 properties around worth Rs 200 crore in IMA Ponzi scam

Agencies
June 28, 2019

Bengaluru, Jun 28: The Enforcement Directorate (ED) has provisionally attached 20 immovable properties and balance in bank accounts -- Rs 11.98 crore -- totaling around Rs 209 crore in IMA Group Ponzi scheme case under the Prevention of Money Laundering Act (PMLA).

"The agency attached 20 immovable properties worth Rs 197 crore, Rs 98 lakh from 51 bank accounts and Rs 11 crore held in Pradhan Mantri Garib Kalyan Deposit Scheme in HDFC Bank," said an ED official in a statement on Friday.

ED had initiated an investigation under PMLA, based on Bengaluru Police FIR under Section 406 (punishment for criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code (IPC) against IMA Group of companies and its Managing Director Mohammed Mansoor Khan.

According to the FIR, IMA allegedly cheated more than 40,000 middle class and lower-middle-class investors, mostly Muslims, after promising them impressive return on their deposits.

"Investigations revealed that the company was not doing any business and was laundering money to generate movable and immovable properties. So far 20 immovable properties held in the name of Mohammed Mansoor Khan and his entities have been identified as proceeds of crime," the statement said.

"On analysis of 105 bank accounts with various private banks and co-operative societies in the Group's name, it was revealed that the company had received about Rs 4,000 crore as investments, which they diverted to acquired various immovable and movable properties in the name of its directors and associates," it said.

The economic watchdog had earlier, issued summons to the IMA founder Khan, directing him to appear before it on June 24, but he failed to appear as he is believed to be in a foreign country.

"Khan had deposited cash of about Rs 44 crore in various bank accounts during the demonetisation period. As a result of the action of the Income Tax Department, IMA Group had paid tax of Rs 22 crore," the statement added.

The enforcement body is also in the process of issuing red corner notice against the absconding accused Mohammad Mansoor Khan and examining the possibility of invoking the Fugitive Offenders Act.

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News Network
May 9,2020

Mangaluru, May 9: Dakshina Kannada District Collector Sindhu B Roopesh on Friday held a meeting to discuss the precautionary measures to be taken to prevent the spread of COVID-19 and the current situation in the district.

The meeting was attended by Member of Parliament and Karnakata BJP unit chief Nalin Kumar Kateel, Minister-in-charge of Dakshina Kannada Kota Srinivasa Poojary, MLA Vedavas Kamath and District Medical Officer Dr Ramachandra Bauri among others were present there.

Top officials of the police department, labour department officials and other concerned persons were also present in the meeting.

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News Network
July 1,2020

Bengaluru, Jul 1: Karnataka Primary and Secondary Education Minister S Suresh Kumar on Wednesday played down reports about confusion regarding valuation of Second Pre- University and the Secondary School Leaving Certificate exam papers.

"Creating confusion has become a habit. There was confusion before the exam, during the exam and now confusion about the valuation of the exam papers," Kumar told reporters in Ramanagara when asked about the confusion over the valuation of answer sheets.

He had gone there to inspect a few centres where the SSLC or the 10th standard exams are underway.

The minister reminded people not to speak about the abilities of the students with contempt.

"Our students have toiled hard and are enthusiastically appearing for the examination. They are eligible for the marks they will score. So we should not speak about our children with disrespect," Kumar said.

The Education Minister said he had spoken to many leaders including former chief ministers Siddaramaiah and H D Kumaraswamy on conducting the examinations.

"Kumaraswamy had insisted on postponing the examination. I personally spoke to him and apprised him about the steps taken by us. I told him that we will work with more sincerity to ensure the safety of the children," Kumar said.

The SSLC exam was scheduled to take place from March 27 but due to the coronavirus-induced lockdown, it was postponed.

While the CBSE and a few other states either decided to give marks based on the students' performance in the previous examinations such as quarterly and half-yearly exams or gave general promotion to the students, Karnataka went ahead to hold the exam.

According to Karnataka Secondary Education Examination Board officials, around 8.5 lakh students have enrolled this year for the SSLC examination.

The exams are being held at 2,879 exam centres across the state.

Prior to the SSLC examination, the last exam of the Second PUC was also conducted on June 18, which was also put on hold due to the lockdown.

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News Network
May 1,2020

Bengaluru, May 1: Karnataka Chief Minister BS Yediyurappa on Thursday announced Rs 30 lakhs compensation for corona warriors, in case they lose lives while carrying out their duties.

"Karnataka Chief Minister BS Yediyurappa has announced Rs 30 lakhs compensation for Anganwadi workers & assistants, civil workers, and police personnel who die after getting infected by COVID-19 while carrying out their duties," State Chief Minister's Office said in a statement.

According to Union Health Ministry website, a total of 557 cases of coronavirus have been reported in the state so far including 223 cured and 21 deaths.

Meanwhile, With 1,823 new cases of COVID-19 reported in the last 24 hours and 67 deaths, India's total count of coronavirus cases has gone up to 33,610, said the Union Ministry of Health and Family Welfare on Thursday.

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