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

coastaldigest.com news network
August 27, 2020

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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
December 19,2025

Mangaluru: The Mangaluru CEN police have arrested a 23-year-old man for allegedly posting provocative and misleading content on an Instagram page named “mr_a_titude”, targeting the Bajpe police.

Mangaluru Commissioner of Police Sudheer Kumar Reddy C H identified the arrested as Abhishek M, a resident of Katipalla in Mangaluru.

A case has been registered at the Bajpe Police Station under Sections 353(1)(c), 353(2), 56, and 57 read with Section 189 of the Bharatiya Nyaya Sanhita (BNS) in connection with the post.

According to police, the accused uploaded a photograph of a hotel on the Instagram page and alleged that accused persons in a murder case under the Bajpe police jurisdiction were being given “royal treatment” by the police, including being served beef meals daily from the hotel.

The post further accused the police of supporting criminals, misusing their authority, and betraying public trust. Police said the content was provocative in nature and aimed at inciting public outrage against the police.

Following the post, a case was registered at the Bajpe police station, and further investigation was transferred to the CEN police station.

Police records indicate that the accused has a criminal history, with multiple cases registered against him, including murder, attempt to murder, assault, and robbery at the Surathkal Police Station, and one case at the Kaup Police Station.

The Commissioner said the accused was traced and arrested using technical evidence.

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News Network
December 19,2025

Mangaluru: In a decisive move to tackle the city’s deteriorating sanitation infrastructure, the Mangaluru City Corporation (MCC) has announced a massive ₹1,200 crore action plan to overhaul its underground drainage (UGD) network.

The initiative, spearheaded by Deputy Commissioner and MCC Administrator Darshan HV, aims to bridge "missing links" in the current system that have left residents grappling with overflowing sewage and environmental hazards.

The Breaking Point

The announcement follows a high-intensity phone-in session on Thursday, where the DC was flooded with grievances from frustrated citizens. Residents, including Savithri from Yekkur, described a harrowing reality: raw sewage from apartments leaking into stormwater drains, creating a "permanent stink" and turning residential zones into mosquito breeding grounds.

"We are facing immense difficulties due to the stench and the health risks. Local officials have remained silent until now," one resident reported during the session.

The Strategy: A Six-Year Vision

DC Darshan HV confirmed that the proposed plan is not a temporary patch but a comprehensive six-year roadmap designed to accommodate Mangaluru’s projected population growth. Key highlights of the plan include:

•    Infrastructure Expansion: Laying additional pipelines to connect older neighborhoods to the main grid.

•    STP Crackdown: Stricter enforcement of Sewage Treatment Plant (STP) regulations. While new apartments are required to have functional STPs, many older buildings lack them entirely, and several newer units are reportedly non-functional.

•    Budgetary Push: The plan has already been discussed with the district in-charge minister and the Secretary of the Urban Development Department. It is slated for formal presentation in the upcoming state budget.

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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