Main accused of multi-crore Global Index fraud nabbed

[email protected] (CD Network, Photos by Savitha B.R)
July 12, 2011

Mangalore, July 12: Mangalore city police arrested the prime accused in a multi-crore fraud case on Monday night and recovered cash and other valuables worth Rs 65 lakh from his procession.

Police on reliable information, nabbed the accused Praveen Shetty (24), near Hotel Grand Meridian, Sheshadripuram, in Bangalore and brought to the city.

Praveen Shetty son of Sadashiva Shetty, a resident of Perdoor in Udupi district, was absconding in Chandighar, Dargiling and Vishakpatna.

City Police Commissioner Seemanth Kumar Singh addressing the media persons here on Tuesday said, with the arrest of Praveen, the total number of arrested in this case increased to five. Four persons Vasantha KD of Sullia, Shekhar Bhat of Belthangady, Ashok Kumar of BC Road and T Koragappa Poojary of Puttur were already arrested.

The fraud had come to light on March 4, when two people, who had invested a huge amount of money with one Global Index Investment Company (GIIC) operating in Mahendra Arcade Complex, Karangalpady here, lodged separate complaints against it at Kadri Police station after realising that they were utterly deceived by the company.

It is said that the company has duped Rs 11 to 12 crore to nearly 2500 people in Mangalore city alone.

Warning

Mr Singh asked the public to be alert when such companies advertise offering highest interest rate for investment. Companies such as Global Index, Nano Forex, Uni Pay to You, SPM Infotech, La-Green Ma, Guru Teak Investment Pvt Ltd duped the public several crores of rupees in Mangalore alone.

He said any such companies cannot offer highest interest rate more than what Reserve Bank of India has fixed. 11 cases in Mangalore East police station, six cases each in Urwa and Surathkal police stations, four in Ullal, one case each in Mangalore North, Mangalore South and Urwa Police Stations have been registered. 11 accused have been arrested in all the cases.

He also requested the public to inform police department if such companies or any firm comes up luring huge profit.

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News Network
May 1,2024

Mangaluru: The Bengaluru-Mangaluru air route has recently surpassed the Mumbai route to become the busiest for Mangaluru International Airport.

According to the Directorate General of Civil Aviation’s city pairing data for March this year, 51,734 passengers travelled between Mangaluru and Bengaluru, while 50,340 passengers flew on the Mangaluru-Mumbai route.

In January and February, the Mumbai air route had the highest passenger flow with 60,306 and 52,732 passengers, respectively, compared to 53,509 and 47,530 for Bengaluru during the same months. However, the trend shifted in March, with the Bengaluru-Mangaluru route surpassing Mumbai.

An official from MIA explained, “The first reason for Bengaluru taking over Mumbai is that flights that almost fly full to Mumbai were reduced from March, after the ministry of civil aviation suggested easing air traffic congestion at Mumbai airport. The air carrier IndiGo, which used to operate four flights a day from MIA, reduced it to three. Air India Express, which operates two flights a day, has made no changes. As a result of this, Bengaluru has taken over Mumbai. A total seven flights operates per day to Bengaluru.” 

The official added that despite the reduction in flights, the Mumbai route still experiences high demand. DGCA data for 2023 shows that the Mumbai and Bengaluru sectors have experienced growth of 11.9% and 19.3%, respectively.

The Mangaluru-Mumbai sector has seen a total of 5,52,767 passengers, followed by Bengaluru with 5,52,500 passengers in the same calendar year.

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News Network
April 26,2024

A 91-year-old woman passed away minutes after casting her vote in Karnataka's Hunsur on Friday, April 26. Hunsur comes under Mysuru Lok Sabha constituency. Despite her advanced age, Puttamma exercised her democratic right.

Voting held on Friday in 14 constituencies in Karnataka. Polling began at 7 am and will ended at 6 pm.

Chende artiste Manohar dies 

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Chende artiste Manohar (58) died of cardiac arrest after exercising his franchise in Kodagu district.

He had cast his vote at B Shettigeri polling station in Ponnampet taluk. Later, Chende artiste Manohar (58) reportedly collapsed after coming out of the polling booth. Though he was rushed to hospital, doctors declared him brought dead.

Ponnampet Tahsildar Mohankumar said “Manohar had come out of the polling booth and collapsed 200 metres away from the booth.

For the uninitiated, Chende (also known as Chenda) is a cylindrical percussion instrument widely used in cultural events in Tulu Nadu of Karnataka and Tamil Nadu in India.

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News Network
April 24,2024

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With the Karnataka transport department extending the deadline for the installation of High Security Registration Plate (HSRP) twice--- in November last year and February, it is no longer planning to extend the same. The department ordered for the installation of HSRP before May 31.

The transport department through a notification in August last year, had mandated the installation on all the vehicles that were registered in the state prior to April 1, 2019. According to transport officials, there are nearly two crore vehicles that are supposed to get HSRP for their vehicles.

“As of now, the state has registered only 34 lakh HSRP installations, despite extending the deadline twice. From nearly 18 lakh installations since February, the numbers have almost doubled. However, there are still a large number of vehicles that have to opt for HSRP,” said C Mallikarjuna, Additional Commissioner for Transport (Enforcement).

“We will wait till May 31 to check for the total number of vehicles that fall in line. We are expecting HSRP installations to touch 75 lakh, after which we will consider an extension as the numbers indicate that people are falling in line and if some more time is given everyone will get it done. However, if we do not reach that number before the deadline, we will request the government not to extend the deadline but urge for an enforcement,” he said.

He also stated that a fine of Rs 500 will be imposed for the first time and if vehicle owners do not fall in line, it will be Rs 1,000 later until they have installed HSRP. “We will wait till the Model Code of Conduct ends and take the government’s opinion. We are going to request the government for strict enforcement if the HSRP installations are not satisfactory,” he added.

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