MLA Bava accuses Samiti of blocking Suratkal-Kana-MRPL road repair work

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.

Bengaluru, Mar 9: The political crisis faced by Kamal Nath government in Madhya Pradesh appears to have accentuated with 13 party MLAs and six ministers reported to be in Bengaluru.

The developments have come amid factional differences in the party unit and at a time the party has to finalise its Rajya Sabha candidates from the state.

Sources said the number of Congress MLAs who were in Bengaluru had gone up to 19 and one more MLA expected to reach Bengaluru by Monday night. They said the MLAs have come in batches and include six ministers from Madhya Pradesh.

The developments came on a day state chief Chief Minister Kamal Nath met party chief Sonia Gandhi and discussed the political situation in the state.

The sources said that MLAs are likely to be shifted to a resort on the outskirts of Bengaluru.

According to the sources, BJP Mahadevpura MLA Arvind Limbavali has been in touch with the Congress MLAs. They said 16 MLAs were brought at HAL airport Bengaluru by a special flight and were staying in a hotel at present.

The session of Madhya Pradesh assembly will begin on March 16 and the BJP may bring no-confidence motion against the Kamal Nath government.

Kamal Nath had said after his meeting with Gandhi that Congress MLAs who were reportedly missing have returned and had informed him that they were on 'tirth yatra'.

"Congress MLAs came back and said to me that they went on' tirth yatra (pilgrimage)".

The Congress has accused the BJP of trying to topple the party government. Party leader Digvijaya Singh had earlier alleged that BJP leaders Shivraj Singh Chouhan and Narottam Mishra were offering bribes of Rs 25-35 crore to Congress MLAs in order to bring down the Congress government in the state. The BJP had refuted the allegations.

In 2018 assembly elections, Congress won 114 seats in the 230-member Assembly and formed the government with the support of four Independent MLAs and two BSP MLAs and a legislator from the Samajwadi Party (SP). The BJP had secured 109 seats in the state assembly.

Last week,Madhya Pradesh Labour Minister Mahendra Singh Sisodia had warned that the state government will face a crisis if it "ignores or disrespects" party leader Jyotiraditya Scindia.

Scindia had said last month that he will not hesitate to hit the roads if promises made in a manifesto by Kamal Nath-led government in Madhya Pradesh were not fulfilled.

Kamal Nath had responded to the remarks saying, "To utar jayein" (Let him hit the streets if he wants to).

Congress MLA Bisahulal Singh, who was "missing" for the past few days, returned to Bhopal on Sunday and said he had gone on a pilgrimage.

Independent MLA Surendra Singh said on Monday that he was hoping to become a minister in Madhya Pradesh government soon.

Bengaluru, Jun 24: Three weeks after the BMTC resumed running air-conditioned buses in the state capital, the state-owned Karnataka State Road Transport Corporation (KSRTC) has announced plying AC buses to eight cities to begin with, including to Mangaluru and Mysuru, from Thursday.

From tomorrow travellers can travel to Mysuru, Mangaluru, Kundapura, Madikeri, Chikkamagaluru, Davanagere, Shivamogga and Virajpet in AC buses, KSRTC said in a statement released here.

Listing out the measures taken to check the spread of Covid-19, the Corporation said that the temperature inside the buses will be maintained at 24 to 25 degrees Celsius and no blankets will be provided in the night service buses.