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.

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News Network
February 1,2026

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Sunday criticised the Union Budget presented by Finance Minister Nirmala Sitharaman, claiming it offered no tangible benefit to the state.

Though he said he was yet to study the budget in detail, Shivakumar asserted that Karnataka had gained little from it. “There is no benefit for our state from the central budget. I was observing it. They have now named a programme after Mahatma Gandhi, after repealing the MGNREGA Act that was named after him,” he said.

Speaking to reporters here, the Deputy Chief Minister demanded the restoration of MGNREGA, and made it clear that the newly enacted rural employment scheme — VB-G RAM G — which proposes a 60:40 fund-sharing formula between the Centre and the states, would not be implemented in Karnataka.

“I don’t see any major share for our state in this budget,” he added.

Shivakumar, who also holds charge of Bengaluru development, said there were high expectations for the city from the Union Budget. “The Prime Minister calls Bengaluru a ‘global city’, but what has the Centre done for it?” he asked.

He also drew attention to the problems faced by sugar factories, particularly those in the cooperative sector, alleging a lack of timely decisions and support from the central government.

Noting that the Centre has the authority to fix the minimum support price (MSP) for agricultural produce, Shivakumar said the Union government must take concrete steps to protect farmers’ interests.

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News Network
January 23,2026

Mangaluru: The Karnataka Government Polytechnic (KPT), Mangaluru, has achieved autonomous status from the All India Council for Technical Education (AICTE), becoming the first government polytechnic in the country to receive such recognition in its 78-year history. The status was granted by AICTE, New Delhi, and subsequently approved by the Karnataka Board of Technical Education in October last year.

Officials said the autonomy was conferred a few months ago. Until recently, AICTE extended autonomous status only to engineering colleges, excluding diploma institutions. However, with a renewed national focus on skill development, several government polytechnics across India have now been granted autonomy.

KPT, the second-largest polytechnic in Karnataka, was established in 1946 with four branches and has since expanded to offer eight diploma programmes, including computer science and polymer technology. The institution is spread across a 19-acre campus.

Ravindra M Keni, the first dean of the institution, told The Times of India that AICTE had proposed autonomous status for polytechnic institutions that are over 25 years old. “Many colleges applied. In the first round, 100 institutions were shortlisted, which was further narrowed down to 15 in the second round. We have already completed one semester after becoming an autonomous institution,” he said. He added that nearly 500 students are admitted annually across eight three-year diploma courses.

Explaining the factors that helped KPT secure autonomy, Keni said the institution has consistently recorded 100 per cent admissions and placements for its graduates. He also noted its strong performance in sports, with the college emerging champions for 12 consecutive years, along with active student participation in NCC and NSS activities.

Autonomous status allows KPT to design industry-oriented curricula, conduct examinations, prepare question papers, and manage academic documentation independently. The institution can also directly collaborate with industries and receive priority funding from AICTE or the Ministry of Education. While academic autonomy has been granted, financial control will continue to rest with the state government.

“There will be separate committees for examinations, question paper setting, boards of studies, and boards of examiners. The institution will now have the freedom to conduct admissions without government notifications and issue its own marks cards,” Keni said, adding that new academic initiatives would be planned after a year of functioning under the autonomous framework.

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News Network
February 4,2026

shettigar.jpg

An Indian resident who won the Dh20 million (approximately Rs 50 crore) jackpot in Abu Dhabi's Big Ticket draw has told of his joy at sharing his life-changing fortune with a friend.

Shanthanu Shettigar, a shop manager in Muscat, regularly buys tickets for the monthly grand prize draw with one of his closest friends – and the pair won on February 3.

Mr Shettigar, 33, who is from Udyavar in Udupi district of the southern state of Karnataka and has lived in the Omani capital for eight years, said he was left speechless after learning of his success.

“When I first moved to Muscat, many of my colleagues were purchasing Big Ticket, which encouraged me to give it a try,” he said.

“I started buying tickets on my own, and later began sharing tickets with a close friend. The ticket that brought me this win was one we purchased together.”

“Like most people, I receive a lot of spam calls, and I was fully absorbed in my work as well. I knew the live draw was taking place tonight, but I never imagined my name would be announced,” he said.

“When I realised it was real and that I had won, I was honestly speechless. It still hasn’t fully sunk in, but I’m extremely happy.”

Mr Shettigar is not sure how he will spend his share of the money, but encouraged others to take part.

“This win was completely unexpected, so I want to take some time to think things through before deciding what to do next,” he said.

“I would definitely encourage others to participate with Big Ticket, whether with family or friends – you never know when your moment might come.”

The Big Ticket was established in 1992 with an initial first prize of Dh1 million. It is one of the most popular monthly raffles in the UAE.

It has transformed the lives of many people across the Emirates and beyond.

Entry to the Big Ticket Millionaire is Dh500. Tickets can be bought online or at counters at Zayed International Airport and Al Ain Airport.

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