Ponzi scheme: Whistleblower Alam Pasha seeks arrest of IAS officer, cop and IMA chief

News Network
October 27, 2021

Bengaluru, Oct 27: Industrialist-cum-whistleblower Alam Pasha has lodged a complaint with the Anti-Corruption Bureau seeking arrest of three persons, including IAS officer Harsh Gupta and Commercial Street Inspector of Police for alleged dereliction of duties with an ulterior aim to acquit IMA chief Mohammed Mansoor Khan, who is an accused in IMA scam.

Speaking to UNI, Pasha said Gupta, who was appointed by Karnataka government as Competent Authority (CA) on behalf of Revenue Department to retrieve the investors monies of more than Rs 4,000 crore and take action as per law against Khan and other accused in the case.

Giving background of the scam in his complaint, Pasha said Khan had floated a ponzi scheme offering investors dream returns on investments made in his firm called I Monetary Advisory Group.

Around October 2018, as many as 75,000 investors began complaining of the firm reneging on payments worth Rs 4,000 crore and the firm also had come under the RBI scanner, he said.

The firm was accused of siphoning off nearly Rs 4,000 crore of funds for the personal benefit of the owners of the firm, he said.

In June 2019, Khan absconded as police initiated a probe in the case. Before absconding, he had released an audio message for the police accusing then Congress MLA Roshan Baig for the fall of the firm, Pasha alleged.

Khan alleged Baig borrowed Rs 400 crore from the firm and failed to return it. He had also accused other politicians and officials of bleeding IMA resources, the complainant said.

After the scam became a major controversy, the then Karnataka Chief Minister HD Kumaraswamy ordered the creation of a Special Investigation Team (SIT) to probe the IMA scam, he said.

Khan was arrested by the ED at Delhi airport in July 2019. In October 2020, he was granted bail by Karnataka High Court, Pasha said.

Gupta, the complainant said, has failed to take action as per law to book IMA culprits to meet the purpose of his appointment to retrieve the monies of the investors from them.
He said the CA has failed in his duty to direct the Inspector of Police to file FIRs against the IMA culprits so that the victims of the scam get back their monies, which they had invested in nine of the companies owned by Khan.

"Unless the police file FIRs against the IMA culprits, no court in the country shall be able to deliver the verdict in favour of the victims. Filing FIRs is the first step towards providing relief to the victims," he said.

The CA also has failed in his duties to seek the intervention of the Ministry of Corporate Affairs to investigate serious frauds committed by IMA Group of companies so that the investigation is carried out without depending on police and their investigation, Pasha said.

The IMA group of companies fall under the purview of the Companies Act 2013 as they are not financial establishments, Pasha said.

Also, the CA has been appointed under section 5 of the Karnataka Protection of Interest of Depositors in Financial Establishment Act 2004, who enjoys powers to initiate an investigation into the financial establishments, but IMA Group of companies are full-blown firms, Pasha said.

"So, knowing that he has to depend on the investigation of the police, the CA is well within his rights to seek the intervention of the Ministry of Corporate Companies to conduct investigations under SFIO rules. If he is sincere and genuine, he would have asked for the SFIO probe," he said.

"It is very clear that the CA and the police officer are working in favour of the accused, namely Khan, rather than giving relief to the IMA victims, who are waiting for retrieval of their money. In these circumstances, I had approached the ACB and lodged a complaint seeking arrest of the three accused," Pasha said.

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News Network
November 18,2021

Bengaluru, Nov 18: Former Karnataka chief minister Jagadish Shettar exuded confidence that BJP would win more than 15 seats out of 25 in polls for Karnataka Legislative Council, slated to be held on December 10.

Speaking to media persons on Thursday, before the inaugural ceremony of Janaswaraj Yatra, he said, there are minimum four to five aspirants for the party's ticket. The core committee submitted the list of aspirants to the Centre. The candidates would be announced soon and he also made it clear that there is no dearth of candidates.

He said the yatra is being held with four teams across the state - one team headed by Shettar will organise conventions in Davangere, Chitradurga, Tumakuru, Ramnagar, Kolar, Chikkaballapur, Bengaluru Rural and Bengaluru Urban. Higher Education Minister C N Ashwath Naryan, Union Minister of Social Justice and Empowerment A  Narayanswamy, Health Education Minister K Sudhakar are part of his team.

Similarly, the other team led by State BJP president Nalin Kumar Kateel started the tour in Koppal and the team would cover eight districts in north Karnataka region. The teams led by former chief minister B S Yediyurappa and Rural Development & Panchayat Raj Minister K S Eshwarappa inaugurated the convention in Karwar and Shivamogga respectively on November 18. So, these four teams will cover 31 districts in Karnataka, he explained.

When questioned on why voters should support BJP in legislative council polls, he said the party gave importance to decentralisation of power. Besides, the Modi-led government is implementing the Jala Siri scheme to ensure that each rural family will get potable water in their household. The Centre and the state government released grants to provide basic facilities in rural areas, he said.

He also made it clear that the results of legislative council polls will not become a referendum on the Bommai-led government and such things can only be gauged from the results of general elections.

On the bitcoin scam, he said it came to light in 2016 when the Congress-led government was in power in Karnataka. "If Congress leaders had evidence with regard to involvement of BJP leaders and their sons in the scam, Siddaramaiah could have taken action against them then. But why didn't he do it?" he questioned and said the government is not shielding anyone in the scam. The investigation is in progress.

He also taunted that Leader of Opposition in Karnataka Legislative Assembly Siddaramaiah is targeting his own party leaders with regard to bitcoin scam.

Urban Development Minister B A Basavaraj, MP G M Siddeshwara, State BJP vice-president B Y Vijayendra, MLC K Gopalaiah, State BJP Secretaries K S Naveen, Mahesh Tenginakai, MLAs N Linganna, S V Ramachandrappa and others were present in the press conference.

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November 22,2021

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Mangaluru, Nov 22: Activists of the Campus Front of India today staged a protest to exert pressure on the police to intensify investigation and arrest the real culprits in the suspected rape and murder of an eight-year-old girl on the outskirts of the city. 

The girl's body was found inside a drain of a tiles factory in Parari village in Ulaibettu on Sunday evening. The girl, the daughter of migrant workers, was reported missing around 4 pm, when she was playing on the premises of the factory. After an extensive search, her body was found in the drainage late in the evening.

Addressing the protesters at Parari junction, gram panchayat member Azhar Ulaibettu said that week laws are one of the reasons for repeated cases of violence against women and children in India. 

He urged the district administration to keep an eye on the migrant labourers from other states who are working in various factories in the coastal district. 

The police have taken 19 persons into custody for questioning in connection with case.

The girl's parents are suspecting the role of factory workers. A total of 30 workers from Karnataka and other states work at the factory. Among them, 10 had not turned up for work on Sunday.

Mangaluru Rural police have registered a case of murder that took place in Parari village. Mangaluru Police Commissioner N Shashikumar said, "We have taken many people into custody. We will ascertain the cause of murder and arrest the culprits soon."

The parents suspect that their daughter was raped and murdered. The police have presently lodged a case of murder and investigating the case.

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News Network
November 22,2021

Kanpur, Nov 22: The All India Muslim Personal Law Board (AIMPLB) has objected to the proposed Uniform Civil Code (UCC) saying it does not go along with the fundamental rights that allows citizens to practice religion as has been enshrined in the Constitution.

Board officials and members rejected the UCC saying the Muslim society will not accept the proposed civil code as it is neither suitable nor useful for a vast multi-religious country like India.

Qasim Rasool Ilyas, Media Coordinator of the Board, told the media after a two-day convention here on Sunday that every citizen has been given the right in the Constitution to have faith in his religion and tell others about it.

"Uniform Civil Code is not appropriate in a multi-religious society. This is contrary to the fundamental rights of the Constitution," he said.

The board has demanded from the government not to impose UCC on Muslims. He said that the board is against those who conduct forced conversions. An appeal has been made to the Muslim community to oppose it.

The board also sought a new legislation against blasphemy while expressing concern over “increasing instances of insult to holy figures”.

A total of 11 resolutions were passed on Sunday, the last day of the session of Madrasa Darul Talim and Sanat (DTS) in Kanpur's Jajmau. Among them, disputes regarding WAQF properties and conversion etc. were prominent. The board opposed forced conversions and non-religious marriages.

The meeting resolved that no person, organization or government using WAQF has the right to sell it or use it for any other purpose against the intention of WAQF. It is an interference with the religious rights of Muslims and Sharia law, they said.

At the convention, it was demanded from the government that they should bring effective laws for women's safety. Strict action was demanded against those who commented on the Prophet.Special initiative was sought from the government to stop the increasing atrocities against minorities, Dalits and other weaker sections.

An appeal was made to the Muslim society to follow the Shariat, to marry with simplicity and not to ask for dowry. Resolve mutual disputes through arbitration and even then if things do not work out, approach the Darul Qaza. Avoid inter-religious marriage, as it creates division in the society and affects communal harmony, the officials at the convention decided.

The convention suggested religious rules and books are related to faith, so only those who understood religion have the right to interpret it. Governments or other institutions should refrain from interpreting religious books or religious terminology, they said.

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