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 7,2025

SHRIMP.jpg

Mangaluru, Dec 7: A rare bamboo shrimp has been rediscovered on mainland India more than 70 years after it was last reported, confirming for the first time the presence of Atyopsis spinipes in the country. The find was made by researchers from the Centre for Climate Change Studies at Sathyabama Institute of Science and Technology, Chennai, during surveys in Karnataka and Odisha.

The team — shrimp expert Dr S Prakash, PhD scholar K Kunjulakshmi, and Mangaluru-based researcher Maclean Antony Santos — combined field surveys, ecological assessments and DNA analysis to identify the elusive species. Their findings, published in Zootaxa, resolve decades of taxonomic confusion stemming from a 1951 report that misidentified the species as Atyopsis moluccensis without strong evidence.

The shrimp has now been confirmed at two locations: the Mulki–Pavanje estuary near Mangaluru and the Kuakhai River in Bhubaneswar. Historical specimens from the Andaman Islands, previously labelled as A. moluccensis, were also found to be misidentified and actually belong to A. spinipes.

The rediscovery began after an aquarium hobbyist in Odisha spotted a shrimp in 2022, prompting systematic surveys across Udupi, Karwar and Mangaluru. Four female specimens were collected in Mulki and one in Odisha, all genetically matching.

Researchers warn the species may exist in very small, vulnerable populations as freshwater habitats face increasing pressure from pollution, sand mining and infrastructure development. All verified specimens have been deposited with the Zoological Survey of India for future reference.

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News Network
December 15,2025

Mangaluru police have arrested a 27-year-old NRI on his return from Saudi Arabia in connection with an Instagram post allegedly containing derogatory and provocative remarks about the Hindu religion, officials said on Monday.

The accused, Abdul Khader Nehad, a resident of Ulaibettu in Mangaluru, was working in Saudi Arabia when the post was uploaded, police said.

A suo motu case was registered at the Bajpe police station on October 11 after an allegedly offensive post circulated from the Instagram account ‘team_sdpi_2025’. Police said the content was flagged for being provocative and derogatory in nature.

During the investigation, technical analysis traced the Instagram post to Nehad, who was residing abroad at the time, a senior police officer said. Based on these findings, a Look Out Circular (LOC) was issued against him.

On December 14, Nehad arrived from Saudi Arabia at Calicut International Airport in Kerala, where he was taken into custody on arrival. Police said further investigation is underway.

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coastaldigest.com news network
December 20,2025

Mangaluru, Dec 20: City Police Commissioner Sudheer Kumar Reddy has issued a high-alert warning to vehicle owners regarding a surge in cyber fraud targeting those looking to pay traffic violation fines. Fraudsters are reportedly exploiting recent government discount schemes on traffic penalties to deceive citizens.

The Scam: How Fraudsters Strike

Criminals are using SMS, WhatsApp, and social media to circulate suspicious links and APK files (Android application packages). They claim these apps allow users to pay e-challans at a discount.

•    Device Hacking: Downloading these unauthorized apps gives hackers full access to the victim's smartphone.

•    Financial Theft: Once the phone is compromised, fraudsters intercept OTPs and personal data to drain bank accounts.

•    Phishing Sites: Fake websites mimicking official portals are also being used to harvest banking credentials.

Already, two residents within Mangaluru city limits have reported significant financial losses after falling victim to these fraudulent apps.

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