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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coastaldigest.com news network
May 19,2020

Bengaluru, May 19: Chief Minister B S Yediyurappa-led Karnataka government has recommended the withdrawal of 46 cases against leaders belonging to Sangh Parivar who had apparently involved in violence during the birth anniversary celebration of Tipu Sultan in the state. 

These cases – ranging from very serious forms of assaults on Muslims to unlawful assembly – were registered across Karnataka between 2014 and 2018.

Among the cases recommended to be withdrawn include those registered against senior state BJP leader Sanjay Patil, VHP leader Swaroop Kalkundri, and several district level Bajrang Dal activists. 

The government recommended withdrawal of these cases under Section 321 of the Code of Criminal Procedure on March 5. 

The recommendations, however, have been opposed by three crucial law enforcement departments – Director General and Inspector General of Police (DG & IGP), Director-Department of prosecution and Government litigation and Law department. 

While the DG & IGP has opined that these cases “cannot be withdrawn”, both the department of prosecution and law have observed that these are “not a fit case to withdraw”.

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Agencies
July 3,2020

New Delhi, Jul 3: The aviation regulator DGCA said on Friday it was extending the suspension of scheduled international passenger flights in the country till July 31 but added that some international scheduled services on selected routes may be permitted on a case to case basis.

Scheduled international passenger flights were suspended in India on March 23 due to the coronavirus pandemic.

Modifying its June 26 circular that stated that scheduled international passenger flights will remain suspended till July 15, 2020, the regulator stated on Friday it has decided to extend the deadline to July 31, 2020.

However, international scheduled flights may be allowed on selected routes by the competent authority on a case to case basis,” said the circular by the Directorate General of Civil Aviation (DGCA).

Air India and other private domestic airlines have been operating unscheduled international repatriation flights under the Vande Bharat Mission, which was started on May 6 by the Central government.

India resumed scheduled domestic passenger flights on May 25, after a gap of two months.

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News Network
January 2,2020

Mysuru, Jan 2: Mysuru-based Karnataka State Open University is gearing up to offer courses online from this year onwards and a proposal in this connection will be placed before the University Grants Commission (UGC) this month, after approval from the board of management.

As of now, the university offers 31 courses, including undergraduate, postgraduate, and diploma programmes.

Vice-chancellor Vidyashankar S Said that the university will submit its proposal to the UGC soon.

“This is being done to make learning convenient and help students study their courses of choices from the comfort of their homes.”

After launching online admissions for courses, this is another step to go paperless and towards an e-campus, the V-C explained.

The university has also proposed to launch 12 new courses for 2020-21.

A proposal in this regard will be placed before the board for approval on Thursday and the same will be submitted to the UGC for its nod.

Prof. Vidyashankar said the these courses will be in addition to the 31 already available.

The new courses include LLM, MA in Education, BBA, BSc, BCA, diploma in Information Technology, postgraduate diploma in Information Technology, BSc in Information Technology, MSc in Information Technology, MSc in Botany, PG diploma in Banking and Insurance, MSc in Zoology, MA in Telugu, Executive MBA, and MSc in Food Sciences and Nutrition.

The new courses had been proposed based on students’ feedback and the trend.

The V-C said the admissions for the January cycle have begun and over 380 students had so far taken admissions online.

“We are hoping for good admissions this cycle and are expecting around 12,000 admissions,” he replied.

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