Popular Finance scam: Owners absconding after taking Rs 2,000-cr from investors

coastaldigest.com news network
August 27, 2020

Konni, Aug 27: Investors may lose around Rs 2,000 after the owners of Kerala’s Popular Finance shut down the firm and went underground.

With the increasing number of complaints against the firm and its owners, a special team has been appointed to investigate the matter. However, the owner filed an insolvency petition in the court the other day.

Popular Finance had 274 branches inside and outside. Though the company had been working well, a sudden financial crisis led to its collapse.

The company was owned by Roy (Thomas) Daniel, his wife Prabha and their family residing in Vakayar. Two weeks ago, the family shut the company’s registered office in Vakayar and went absconding. Based on complaints from the investors, Konni police registered a cheating case against Roy and Prabha. It is learned that the company owes money to over 1,500 people including NRIs.

As the registered office was closed, investors started reaching other branches demanding their money back. Following this, the other branches are also being closed down. K G Simon pointed out that the firm does not have the resources to return all the money to the investors. More investigations are being held into other firms owned by the family.

People had invested between Rs 10,000 and Rs 80,000 in the company. Most of them made the investments for constructing houses, for marriage and to earn income after retirement. The investors said that they were paid interests properly until last month.

Those who deposited smaller amounts in the company raised complaints first. Many of those who have invested huge sums in the firm are yet to register complaints. Police have received proof that the company was not functioning properly for the last four years.

Alerts have been sounded in airports to prevent the owners from escaping to foreign countries. Konni CI P. S. Rajesh is in charge of the investigation. Popular Finance was founded in 1965 by T. K Daniel, father of Roy.

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News Network
January 28,2026

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Mumbai: The sudden death of Maharashtra Deputy Chief Minister Ajit Pawar in a plane crash in his hometown of Baramati has plunged the state into political uncertainty, raising a pressing question for both the Nationalist Congress Party (NCP) and its rival faction, the Nationalist Congress Party (Sharadchandra Pawar): what next?

For the two factions that emerged after the dramatic split of June–July 2023, the moment marks their gravest challenge yet. Many believe the answer now rests with party founder Sharad Pawar.

Sharad Pawar, who founded the NCP in 1999 after parting ways with the Congress over Sonia Gandhi’s foreign origin, has already indicated his intention to step away from electoral politics once his Rajya Sabha term ends in April 2026.

Speaking at a public event in Baramati ahead of his 85th birthday on December 12, 2025, Pawar said he would not contest any further elections. “I have contested 14 elections. The younger generation needs to be given an opportunity,” he said, adding that he would decide later whether to seek another Rajya Sabha term.

Often described as the Bhishma Pitamah of Indian politics, Pawar also spoke of his gradual withdrawal from active leadership. “For the first 30 years, I handled everything. For the next 25–30 years, Ajit Dada handled responsibilities. Now, arrangements must be made for new leadership,” he said.

Ajit Pawar’s death has dramatically altered that transition, especially as he was working towards reunifying the two NCP factions.

“After the developments of June–July 2023 and the 2024 Lok Sabha and Vidhan Sabha elections, there were deep changes within the family and the party. In the last six months, serious efforts were made to reunite. Even workers from both sides wanted unity. This is a massive blow,” a Pawar family insider told DH over phone from Baramati.

Electoral outcomes over the past year reflected the split. In the 2024 Lok Sabha elections, NCP (SP) recorded the best strike rate in Maharashtra, winning eight of the 10 seats it contested. The NCP, by contrast, won just one seat out of four.

However, the trend reversed in the subsequent Vidhan Sabha elections, where the NCP emerged stronger, securing 41 of the 288 seats, while NCP (SP) managed only 10.

Within NCP (SP), Sharad Pawar’s daughter Supriya Sule serves as Working President, followed by leaders such as Rohit Pawar, state president Shashikant Shinde and former state chief Jayant Patil.

In the NCP, Praful Patel is the Working President and Raigad MP Sunil Tatkare heads the state unit. Ajit Pawar’s wife, Sunetra Pawar, is a Rajya Sabha MP, while their sons Parth and Jay are not actively involved in day-to-day politics. Parth Pawar briefly entered electoral politics in 2019 but lost the Lok Sabha election from Maval. Jay Pawar’s political debut was under consideration.

With Ajit Pawar gone, speculation has intensified that a member of the family may be asked to assume a larger role. For now, Sunetra Pawar is expected to play a key coordinating role in party affairs, alongside Patel and Tatkare.

The NCP continues to have several heavyweight leaders, including Chhagan Bhujbal, Hasan Mushrif, Dattatreya Bharne, Manikrao Kokate and Dhananjay Munde.

Ajit Pawar had already begun steps towards reconciliation between the two factions. While they contested the Pune and Pimpri-Chinchwad municipal elections separately, they later decided to fight the zilla parishad elections together under the ‘clock’ symbol—seen as the first formal step towards reunification.

Nagpur meet and party roadmap

Both NCP factions claim adherence to the ideology of ‘Shiv–Shahu–Phule–Ambedkar’. At the Rashtravadi Chintan Shivir held in Nagpur on September 19, 2025, the NCP reaffirmed its commitment to sarva dharma sambhav and discussed strengthening ties with the BJP “for the welfare and development of Maharashtra”.

In recent days, reports had suggested Ajit Pawar might return to the Maha Vikas Aghadi following the party’s poor performance in Pune municipal elections, but these claims were denied.

Big question for Maha Yuti

Ajit Pawar’s death also presents an immediate challenge for the Devendra Fadnavis-led Maha Yuti government. Pawar held crucial portfolios, including Finance, Planning and Excise. With the Budget Session approaching, appointing a new Finance Minister has become urgent.

Beyond numbers and portfolios, Maha Yuti has lost a swift decision-maker known for his administrative grip and political finesse—leaving a vacuum that will not be easy to fill.

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News Network
February 1,2026

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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.

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News Network
February 4,2026

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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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