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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coastaldigest.com news network
January 19,2026

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Mangaluru: The Phase I project of Badria Vision 2028 was formally launched at a ceremony held at the Badria Campus on January 17, marking an important step in the institution’s long-term development roadmap.

The programme was attended by P.B. Abdul Hameed, Secretary of the MEA, and P.C. Hasir, Correspondent of the MEA, who presided over the event and underscored the institution’s commitment to growth and academic excellence.

Office-bearers of the Badria Alumni Association were present in large numbers, including A.K. Sajid (President), Shamsuddin and S.M. Farooq (Vice-Presidents), Shaheed (General Secretary), and Khaleel (Treasurer), reflecting strong alumni engagement in the initiative.

The gathering was blessed by Sayyid Shamsuddeen Basith Thangal Kukkaje, Qateeb of Zeenat Yatheem Bakshi, who led a special dua seeking divine guidance and success for the project.

The ceremony also witnessed the participation of prominent alumnus and local corporate professional Abdul Latheef, along with alumni members Naushad, Kalandar, Safwan, members of the core committee, and several other former students.

A key moment of the event was the formal handover of a cheque to Ameen Woodland Architect, signalling the immediate commencement of construction work under Phase I of the project.

Organisers said the launch of Phase I reflects a shared vision, institutional unity, and collective resolve to realise the objectives of Badria Vision 2028.

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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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coastaldigest.com news network
January 19,2026

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Bengaluru: As the dust settles on the recent legislative session, the corridors of Vidhana Soudha are buzzing with more than just policy talk. A high-stakes game of political musical chairs has begun, exposing a deepening rift within the Congress party’s Muslim leadership as a major Cabinet reshuffle looms.

With the party hierarchy signaling a "50% refresh" to gear up for the 2028 Assembly elections, the race to fill three projected Muslim ministerial berths has transformed from a strategic discussion into an all-out turf war.

The "Star Son" Spark

The internal friction turned public this week following provocative remarks by Zaid Khan, actor and son of Wakf Minister Zameer Ahmed Khan. Zaid’s claim—that his father "helped" secure a ticket for Shivajinagar MLA Rizwan Arshad in 2023—has acted as a lightning rod for resentment.

Rizwan’s camp was quick to fire back, dismissing the comment as a desperate attempt by Zameer to manufacture seniority. "Rizwan’s political pedigree was forged in the NSUI and Youth Congress long before Zameer even stepped into the party," a supporter noted, highlighting Rizwan’s tenure as an AICC secretary and his two-term presidency of the State Youth Congress.

A Tale of Two Loyalists

While both Zameer Ahmed Khan and Rizwan Arshad are staunch allies of Chief Minister Siddaramaiah and represent Bengaluru strongholds, their political DNA could not be more different:

•    Zameer Ahmed Khan: A four-time MLA who crossed over from JD(S) in 2018. Known for his "overzealous" and often polarizing outreach during communal flashpoints—from the DJ Halli riots to the recent Wakf land notice controversy—his style has frequently left the Congress high command in a state of "discomfort."

•    Rizwan Arshad: A homegrown organizational man. Seen as a "quiet performer," Arshad represents the sophisticated, moderate face of the party, preferred by those who find Zameer’s brand of politics too volatile.

The Outsiders Looking In

The bickering isn't limited to a duo. The "Beary" community, represented by leaders like N A Haris and Saleem Ahmed, is demanding its pound of flesh. Saleem Ahmed, the Chief Whip in the Legislative Council, has dropped the veil of diplomacy, openly declaring his ministerial aspirations.

"I was the only working president not included in the Cabinet last time," Saleem noted pointedly, signaling that the "loyalty quota" is no longer enough to keep the peace.

As Chief Minister Siddaramaiah prepares to finalize the list, he faces a delicate balancing act: rewarding the aggressive grassroots mobilization of Zameer’s camp without alienating the organizational stalwarts and minority sub-sects who feel increasingly sidelined by the "Chamarajpet-Shivajinagar" binary.

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