Bengaluru Ponzi scam: SIT officers enter IMA Jewels showroom, find it 90% empty

TNN
June 18, 2019

Bengaluru, Jun 18: Sleuths who entered the Jayanagar showroom of IMA Jewels — one of the entities of IMA Group being probed for its Ponzi operations — found 90% of the ornaments in the display units had disappeared.

The Special Investigation Team suspects the IMG Group founder-owner Mohammed Mansoor Khan may have taken the jewellery with him when he fled the country on June 8. The remaining jewellery is being evaluated and could be worth Rs 20 crore, SIT sources said. The inspection was conducted on Monday.

SIT sleuths have searched the houses of two women, including a former wife of Khan, and seized gold ornaments, Rs 2 lakh in cash and a laptop used by him.

With 1.25 lakh people having lost their money to Ponzi scams in Bengaluru in the past decade, new Bengaluru City police commissioner Alok Kumar said preventing such fraudulent schemes will be one of his priorities.

The Karnataka government said it was considering setting up fast-track courts to try Ponzi cases, and revenue minister RV Deshpande told TOI the government was contemplating a new law in this regard.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 10,2021

Bengaluru, Jan 10: Karnataka Chief Minister BS Yediyurappa Sunday met Home Minister Amit Shah in Delhi to discuss the state's political scenario and finalise the BJP's candidates for the upcoming by-polls in the state as he arrived in the national capital on a day-long visit.

Before he left for Delhi earlier in the day, Yediyurappa had hinted the much-awaited cabinet rejig in the state might also come up for discussion during his meeting.

After landing in Delhi, the CM told reporters, "I am going to discuss the political situation in Karnataka."

"Recently, we won the gram panchayat elections in a very big way. Within a month, we are going to face two parliamentary and an assembly by-polls. We have to finalise the candidates. We will discuss all these issues with Amit Shah and other important leaders," he added.

The BJP leader said while his appointment with the home minister is confirmed, he will also try to meet JP Nadda, the party's national president.

Asked about the steps taken to check the spread of COVID-19 in the state, the chief minister said, "In Karnataka, the COVID-19 situation is under control. We are taking all precautions."

Earlier before leaving the Bangalore Airport, he hinted that the cabinet expansion may also come up for discussion during his meeting with the party high command.

"I don't know. I will discuss all the issues," he told reporters at the airport when asked if a cabinet rejig is likely this week.

The cabinet expansion in the state has been on the cards for over a year now, but it could not take place, giving some anxious moments to ministerial aspirants and also leading to dissatisfaction.

Among those in the ministerial race are MLAs Umesh Katti, Munirathna, Basanagouda Patil Yatnal, M P Renukacharya, Aravind Limbavali and S R Vishwanath. Three MLCs -- C P Yogeshwar, MTB Nagaraj and R Shankar -- are too aspiring for a ministerial berth.

Another MLC, A H Vishwanath, too was in the race but his hopes dashed when the Karnataka High Court on November 30 barred him from becoming a minister until at least May this year.

The state can have a total of 34 ministers and it has 27 now.

By-polls are scheduled for Maski and Basavakalyan assembly segments, and Belagavi Lok Sabha constituency.

While Maski fell vacant due to the resignation of sitting Congress MLA Pratap Gouda Patil in 2019, the by-polls to Basavakalyan and Belagavi seats have been necessitated by the deaths of their representatives B Narayan Rao and Suresh Angadi, respectively, due to coronavirus.

"I will discuss all other issues with the party high command and wish to return in the night," the chief minister said before he departed. 
 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 8,2021

Mangaluru, Jan 8: The Kanara Chamber of Commerce and Industry (KCCI) has appealed to Karnataka Chief Minister B S Yediyurappa to withdraw the proposed hike in electricity tariff by Mangalore Electricity Supply Company (MESCOM).

In a letter to the Chief Minister, KCCI President Isaac Vas said MESCOM's decision to hike power tariff by Rupee One per unit was 'shocking',the move will badly affect the consumers of Dakshina Kannada, Udupi and Shivamogga districts.

He said that the increase will be a blow to the MSME sector, the second-largest employment generator after agriculture and acts as a breeding ground for entrepreneurs and innovators with considerable support in strengthening business ecosystems.

He said that in Dakshina Kannada alone, over one lakh people are employed in this sector, while the large industries employ less than 10,000 people. The countrywide lockdown dragged MSME owners, employees and other stakeholders to unexpected repulsions.

After the lockdown, MSMEs face challenges relating to debt repayments, wages and salaries, and statutory dues. The MSME sector will completely collapse if the tariff hike is implemented, he said.

The KCCI requested that MESCOM reduce its distribution losses and overheads instead of putting an additional burden on the consumers.

MSMEs are struggling to revive operations after the pandemic and the severe slowdown in the economy, he added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 9,2021

54_0.jpg

Chikkaballapur, Jan 9: Several poultry farmers have allegedly dumped their chicken in the forest on Saturday due to the bird flu scare.

They were dumped in the forest area near the Nantahala village in the district. Officials said that due to quarrel between the poultry farmers and multinational companies that supply poultry, farmers have dumped thousands of chickens in the nearby forest.

Government officials at the animal husbandry department promised to meet the Poultry farmers to settle the issue, but they are preventing multinational companies from transporting poultry and are leaving the chicken in the forests.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.