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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.

Mangalore, Jan 12: Thieves reportedly stole around 70,000 cash from a MESCOM ATP machine located at Chembugudde in Thokkottu, Police said here on Sunday.

Police said that the theft took place in the MESCOM sub-division office at Chembugudde. It was said that the thieves broke open the room where the MESCOM customers bill payment machine was located and stole 70,000 rupees cash from the ATP machine.

This machine had nine lakh rupees cash. The amount was reported to have been transferred at around 1500 hrs on Saturday.

It has been 33 years since the night of 22 May, 1987 when nearly 50 Muslim men from Hashimpura, a settlement in Meerut were rounded up and packed into the rear of a truck of the Provincial Armed Constabulary (PAC), an armed police of Uttar Pradesh. It was the blessed month of Ramadan and all the Muslims were fasting.

That night 42 of those on board the truck were killed in two massacres in neighbouring Ghaziabad district. One along the Upper Ganga canal near Muradnagar, the other along the Hindon canal in Makanpur, on the border with Delhi.

The cops had returned home after dumping the dead bodies into the canal. A few days later, the dead bodies were found floating in the canal and a case of murder was registered. 

Vir Bahadur Singh was the chief minister of Uttar Pradesh and Rajiv Gandhi was the prime minister of India when this incident took place. 

Not much has changed for the survivors and the relatives of the victims even today. The wounds are still fresh. Hashimpura remains devoid of basic municipal amenities, the erring silence on the narrow lanes of the locality amid the activities of a daily life speaks of the horror of the fateful day in 1987.

The massacre was the result of one among the many outcomes of the decision taken by the Rajiv Gandhi government to open the locks of Babri Masjid. After a month of rioting, the situation was tense in various parts of Meerut, and a lot spilled over in the nearby areas.

Timeline

May 22, 1987

Nearly 50 Muslims picked up by the PAC personnel from Hashimpura village in Meerut, Uttar Pradesh.
Victims later shot and bodies thrown into a canal. 42 persons declared dead.

1988

UP government orders CB-CID probe in the case.

February 1994

CB-CID submits inquiry report indicting over 60 PAC and police personnel of all ranks.

May 20, 1996

Charge sheet filed against 19 accused before Chief Judicial Magistrate, Ghaziabad by CB-CID of Uttar Pradesh police. 161 people listed as witnesses.

September 2002

Case transferred to Delhi by the Supreme Court on a petition by the families of victims and survivors.

July 2006

Delhi court frames charges of murder, attempt to murder, tampering with evidence and conspiracy under the IPC against 17 accused.

March 8, 2013

Trial court dismisses Subramanian Swamy's plea seeking probe into the alleged role of P Chidambaram, then Minister of State for Home, in the matter.

January 22, 2015

Trial court reserves judgement.

March 21, 2015

Court acquits 16 surviving accused giving them benefit of doubt regarding their identity.

May 18, 2015

Trial court decision challenged in the Delhi HC by the victims' families and eyewitnesses who survived the incident.

May 29, 2015

HC issues notice to the 16 PAC personnel on Uttar Pradesh government's appeal against the trial court verdict.

December 2015

National Human Rights Commission is impleaded in the matter. NHRC also seeks further probe into the massacre.

February 17, 2016

HC tags Swamy's appeal with the other petitions in the matter.

September 6, 2018

Delhi HC reserves verdict in the case.

October 31, 2018

Delhi HC convicts 16 former PAC personnel for life after finding them guilty of the murder of 42 people.