Multi-billion IMA scam: HC asks govt to reconsider attaching Roshan Baig's assets

News Network
April 18, 2021

Bengaluru, Apr 18: The High Court has directed the Karnataka government to reconsider the stand and take necessary decisions on attaching properties connected to former minister R Roshan Baig in connection with the multi-billion I Monetary Advisory (IMA) scam.

A division bench, headed by Chief Justice Abhay Shreeniwas Oka, also directed the government to consider paying the competent authority Rs 12.82 crore, spent by the IMA Group, to reconstruct a government school in Shivajinagar.

The bench noted that the government has completely ignored the powers vesting in it under the Karnataka Protection Interest of Depositors in Financial Establishments (KPID) Act 2004 on the question of attaching the properties of Baig. It said the government has only considered one aspect as to whether Baig had taken any financial benefits from the IMA group.

"If we accept the submission of the state that question of attachment of properties will be considered only after the submission of the final report of CBI, in every such case such a stand can be taken by the state government. It will defeat the very object of enactment in particular section 3 (2) of KPID Act," the bench said.

The court was informed that IMA had spent Rs 10.82 crore on construction and maintenance at V K Obaidullah Government School in Shivajinagar. The IMA group had entered into a Memorandum of Understanding (MoU) with the Block Education Officer. The competent authority, appointed under the KPID Act, had written to the Principal Secretary, Revenue Department, seeking payment of Rs 12.82 crore so that the money can be returned to the depositors. The bench asked the government to consider both attaching the school building and to pay Rs 12.82 crore to the competent authority.

“We are sure that the state government will seriously consider this issue, as prima facie, we are of the opinion that investors’ money deposited with IMA group cannot be converted to the construction of a school building of the state government,” the court said.

The Central Bureau of Investigation (CBI), meanwhile, submitted that it is going to challenge the recent High Court order quashing the supplementary charge sheets filed against IPS officer Hemanth Nimbalkar.

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
February 3,2026

wind.jpg

Dakshina Kannada MP Capt Brijesh Chowta has urged the Centre to give high priority to offshore wind energy generation along the Mangaluru coast, citing its strategic importance to India’s green energy and port-led development goals.

Raising the issue in the Lok Sabha under Rule 377, Chowta said studies by the National Institute of Oceanography have identified the Mangaluru coastline as part of India’s promising offshore wind ‘Zone-2’, covering nearly 6,490 sq km. He noted that the region’s relatively low exposure to cyclones and earthquakes makes it suitable for long-term offshore wind projects and called for its development as a dedicated offshore wind energy zone.

Highlighting the role of New Mangalore Port, Chowta said its modern infrastructure, multiple berths and heavy cargo-handling capacity position it well as a logistics hub for transporting and assembling large wind energy equipment.

He also pointed to the presence of major industrial units such as MRPL, OMPL, UPCL and the Mangaluru SEZ, which could serve as direct buyers of green power through power purchase agreements, improving project viability and speeding up execution.

With Karnataka’s peak power demand crossing 18,000 MW in early 2025, Chowta stressed the need to diversify renewable energy sources. He added that offshore wind projects in the Arabian Sea are strategically safer compared to the cyclone-prone Bay of Bengal.

Calling the project vital to India’s target of 500 GW of renewable energy by 2030, Chowta urged the Ministry of New and Renewable Energy to initiate resource assessments, pilot projects and stakeholder consultations at the earliest.

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
February 1,2026

Golf.jpg

The coastal city of Mangaluru is gearing up for a major sporting milestone with the launch of a Golf Excellence Academy at the Pilikula Golf Club (PGC), scheduled to open on May 31. The initiative aims to position Mangaluru firmly on India’s national golfing map.

Speaking to reporters on Saturday during PGC’s first-ever floodlit Pro-Am tournament, club captain Manoj Kumar Shetty said the project is being funded by UAE-based philanthropist Michael D’Souza and is currently in the design phase. Experts from leading golf academies across the country are expected to visit Mangaluru to help shape the training programme and infrastructure.

The academy will train 20 young golfers at a time, with a long-term vision of producing national-level players from the region. Until now, PGC relied on an in-house coach, but the recent renovation of the course and the introduction of floodlights have opened new possibilities for expanding the sport.

Shetty said discussions are underway with two reputed coaching academies, whose heads are expected to visit PGC shortly. “A dormitory for trainers is already under construction. We are inviting academies to assess the facilities and suggest changes so we can build a truly world-class Golf Excellence Academy,” he said.

Professional golfer Aryan Roopa Anand noted that the floodlit course would be a game-changer for young players. “Students can now practise after school hours, even up to 8 or 9 pm, without compromising on academics,” he said.

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
February 1,2026

US President Donald Trump on Saturday claimed that the government of India led by Prime Minister Narendra Modi has made a deal to buy Venezuelan oil, as opposed to purchasing it from Iran.

"We've already made that deal, the concept of the deal," he told reporters on Air Force One.

Trump had imposed 25% tariffs on countries buying Venezuelan oil, including India, in March 2025. He had also hit India with tariffs for buying Russian oil, saying it was "funding" President Vladimir Putin's war against Ukraine.

Trump has said that the US has taken control of the oil-rich Venezuela after capturing former President Nicolas Maduro in January.

A fleet of 18 ships loaded with crude oil bound for refineries in Texas, Louisiana, and Mississippi in January, the most since December 2024, according to a report by the news agency Bloomberg.

Combined crude deliveries to the US will reach about 2,75,000 barrels a day, more than doubling volumes seen in December last year. Shipments to China, which averaged 4,00,000 barrels a day last year, fell to zero in January.

PM Modi, Venezuelan President Agree To Expand Ties

Prime Minister Narendra Modi and Venezuela's acting President Delcy Rodriguez spoke on Friday and agreed to take the bilateral relations to "new heights" in the years ahead.

It was the first phone call between the two leaders since the capture of Maduro and his wife by the US on January 3.

"Spoke with Acting President of Venezuela, Ms. Delcy Rodriguez. We agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead," PM Modi said in a post on X.

A statement from Prime Minister Modi's office said the two leaders agreed to further expand and deepen the India-Venezuela partnership in all areas, including trade and investment, energy, digital technology, health, agriculture, and people-to-people ties.

They exchanged views on various regional and global issues of mutual interest and underscored the importance of their close cooperation for the Global South, the statement said.

Rodriguez also said that they discussed partnerships in the fields of agriculture, science and technology, mining, and tourism, as well as the pharmaceutical and automotive industries.

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.