Cash deposits at co-op society in city under scanner

January 28, 2017

Bengaluru, Jan 28: Tax sleuths are investigating big cash deposits and loan repayments at Vasavi Credit Cooperative Society.

An official statement on Friday said they were verifying “such huge deposits after demonetisation.'' Sleuths searched society premises from January 24 to 26.

Cash1
With its head office at Malleswaram, Vasavi Co-operative Society runs four branches---at Sanjay Nagar, Moodalapalya, Nelamangala, and Gandhi Bazar.

“Preliminary investigations indicate that a substantial part of the deposits are from undisclosed sources,” the release said. It did not, however, give an exact figure.

The income tax department's investigation wing seized several documents, and put the total deposits mobilised by the society, as on March 31, 2016, at Rs 200 crore.

Illegal operations

Tax sleuths said Vasavi Credit Co-operative Society was involved in banking operations although it was registered only as a society. Regulatory and enforcement agencies will look into the violations, the income tax department said.

The society was started in 1991 and has about 30,000 members. It was accepting deposits after enrolling individuals as members for a nominal fee. Subsequently, members could make time deposits, buy cash certificates, and operate savings accounts.

The society has not complied with statutory regulations: it has not collected PAN from account holders, or even deducted tax on interest paid, sleuths said.

The society had tied up with a nationalised bank to allow electronic fund transfers.

CEO?under cloud

Sleuths said they had found evidence against the society's CEO. He was running an unregistered chit-fund and finance business at the society with help from relatives, according to the I-T department.

Garib Yojana deal

The tax department said those with deposits at such societies could consider putting their money in the Pradhan Mantri Garib Kalyan Yojana to get immunity from tax, penalty and prosecution.

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News Network
December 19,2025

Mangaluru: The Mangaluru CEN police have arrested a 23-year-old man for allegedly posting provocative and misleading content on an Instagram page named “mr_a_titude”, targeting the Bajpe police.

Mangaluru Commissioner of Police Sudheer Kumar Reddy C H identified the arrested as Abhishek M, a resident of Katipalla in Mangaluru.

A case has been registered at the Bajpe Police Station under Sections 353(1)(c), 353(2), 56, and 57 read with Section 189 of the Bharatiya Nyaya Sanhita (BNS) in connection with the post.

According to police, the accused uploaded a photograph of a hotel on the Instagram page and alleged that accused persons in a murder case under the Bajpe police jurisdiction were being given “royal treatment” by the police, including being served beef meals daily from the hotel.

The post further accused the police of supporting criminals, misusing their authority, and betraying public trust. Police said the content was provocative in nature and aimed at inciting public outrage against the police.

Following the post, a case was registered at the Bajpe police station, and further investigation was transferred to the CEN police station.

Police records indicate that the accused has a criminal history, with multiple cases registered against him, including murder, attempt to murder, assault, and robbery at the Surathkal Police Station, and one case at the Kaup Police Station.

The Commissioner said the accused was traced and arrested using technical evidence.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 20,2025

Mangaluru, Dec 20: The Mangaluru City Police have issued a detailed traffic advisory ahead of the inaugural ceremony of Karavali Utsava, which will be held at the Karavali Utsava Ground on Saturday.

The festival will be inaugurated at 6:00 pm by Dakshina Kannada District Minister Dinesh Gundu Rao. Cultural and public programmes will be held at the venue every evening and will continue until January 2.

According to City Police Commissioner Sudheer Kumar Reddy, parking of vehicles is strictly prohibited on both sides of the road from Lalbagh to Karavali Utsava Ground. Visitors are requested to park their vehicles only at designated parking areas.

To help the public, traffic signboards and parking guidance flex boards have been installed along the routes leading to the venue. The police have urged commuters and visitors to follow these instructions to ensure smooth traffic movement.

Designated Parking Locations

•    Urwa Market Ground – Cars
•    Gandhinagar Government School (near Press Club) – Two-wheelers and cars
•    Ladyhill Church parking area – Two-wheelers and cars
•    Canara School Ground, Mannagudda – Two-wheelers and cars
•    Thimmappa Hotel premises – Two-wheelers and cars
•    Scout and Guide Bhavana premises (behind Karavali Utsava Grounds) – Two-wheelers
•    Urwa Market Road – Two-wheelers
•    Hat Hill Road – Two-wheelers

The police have appealed to the public to cooperate by following traffic rules and parking guidelines to avoid inconvenience during the festival.

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