CBI raids two income-tax officials in IMA multi-billion investment scam

News Network
December 31, 2019

Bengaluru, Dec 31: The premises of two income-tax officers in Bengaluru were among eight places that the CBI searched in connection with the multi-billion IMA scam, officials said on Monday.

The officers are Saurabh Nayak, then Deputy Commissioner, Income Tax (Investigation), and D Kumar, Assistant Commissioner, Income Tax (Assessment), they said.

The officers are suspected to have favoured IMA founder Mohammed Mansoor Khan and turned "a blind eye" to his questionable transactions, they said. Five places were searched in Bengaluru and one each in Karwar, Salem and Hosur.

The search also covered the premises of three individuals named Asish Jain, Kiran Pamidi and Kaizer Basha, they said.

Nayak and Kumar had searched the IMA offices and assessed its accounts in 2017, but they allegedly did not take action on irregularities in the deduction of TDS on the interest paid by the company and ignored huge cash payment entries in the account books, officials said.

The CBI also found that the accounts of IMA that were frozen after income-tax searches in 2017 were subsequently defrozen. The agency suspects that Khan paid huge bribes to the income-tax officers for the alleged omission.

The CBI probe shows that various entities of the IMA Group had raised illegal and unauthorised deposits to the tune of over Rs 4,000 crore from innocent investors in a dishonest and fraudulent manner, sources said. As on date, over Rs 3,000 crore is outstanding in the form of principal amount and interest in respect of 76,000 investors, they added.

Further investigation is ongoing to unearth the larger conspiracy, the money trail, the end beneficiaries and the diversion of funds, the sources explained.

The CBI has filed two charge sheets against 22 people, including directors, chartered accountants, middlemen and the company and its sister concerns.

The CBI had booked Khan, the IMA founder and managing director, and others after the Karnataka government tasked it with the investigation, the officials said.

The case came to light when Khan fled to Dubai in early June, leaving behind an audio message, saying that he was committing suicide because of "corruption in the state and central governments". Khan was arrested on July 19 upon his arrival in New Delhi by the Enforcement Directorate (ED) and is currently in judicial custody.

He had allegedly promised returns ranging from 2.5% to 3% per month to the mainly Muslim investors in the name of Halal investments. The Karnataka government had constituted a special investigation team (SIT) of the police to investigate the scam before handing it over to the CBI.

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News Network
October 1,2024

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The BJP has selected Kishore Kumar Puttur as its candidate for the bypoll to Karnataka Legislative Council from Dakshina Kannada and Udupi Local Authorities’ Constituency. The by-election will be held on October 21.

Kishore Kumar is presently serving as the General Secretary of Dakshina Kannada BJP unit. He had served as vice president of State BJP Yuva Morcha from 2014 to 2016.

The by-election will be held to the seat vacated by Kota Srinivas Poojary of the BJP who has been elected as the Lok Sabha member from Udupi-Chikmagaluru Lok Sabha constituency. The vacancy was created on June 15, 2024 following Poojary’s resignation to the Council. His term in the council was till January, 2028.

In the last Council election held for the dual member constituency in December 2021, Poojary had secured 3,672 votes while the Congress candidate Manjunath Bhandary had secured 2079 votes. Poojary and Bhandary had secured required votes from the first preferential votes and had won the election.

There were several aspirants for the BJP ticket including former MP Nalin Kumar Kateel, DK BJP president Satish Kumpala, Mangaluru divisional in-charge Uday Kumar Shetty, former minister Pramod Madhwaraj and former Udupi district BJP president Kuilady Suresh Nayak.

The Congress is yet to announce its candidate for the election. KPCC working president Manjunath Bhandary in a recent press meet in Mangaluru had said that an opportunity will be given to congress leaders from Udupi district to contest by-election.

The Dakshina Kannada and Udupi Local Authorities’ Constituency has 6037 voters including 3551 from Dakshina Kannada comprising eight MLAs, one MP. The last date for filing nomination is October 3 and the last date for withdrawal of nomination is October 7. The counting will be held on October 24.

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News Network
October 3,2024

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Bengaluru: The Karnataka Food Safety and Quality Department has issued an urgent warning following the discovery of potentially cancer-causing chemicals in cakes sold by certain bakeries across the state.

Recent tests conducted by the department revealed that some cake samples, particularly those with vibrant colors, contain harmful synthetic coloring agents such as Allura Red, a substance known to pose health risks. The findings have raised concerns about the use of artificial colors in bakery products, especially given their potential link to cancer and other serious health conditions.

"We routinely test various food products, and this time, our officials noticed unusually dark-colored cakes on the market," said Srinivas K, Commissioner of Food Safety for Karnataka. "Upon testing, we found that a few cakes contained Allura Red, a synthetic dye associated with health risks."

The use of artificial colors, especially in popular cakes like red velvet and pineapple varieties, is widespread as it attracts customers, particularly children. However, many bakers prefer using natural, safer alternatives, while some opt for synthetic dyes to enhance the cake's visual appeal.

"Most bakeries use permissible, natural colors that are safe for consumption. Unfortunately, a few are resorting to synthetic dyes just to make their cakes more attractive," said a bakery owner from Electronic City, speaking anonymously.

Medical experts are warning that consuming synthetic colors can lead to numerous health issues, including asthma and allergic reactions.

"Some of these artificial dyes are carcinogenic, and prolonged exposure could have serious consequences, especially for children and young adults," cautioned Dr. Vandana G, a private medical practitioner.

While the Food Safety and Standards Authority of India (FSSAI) confirms that only a limited number of samples tested positive for harmful colors, legal action is being taken against the violators.

"There is no need for widespread panic or halting production. We are closely monitoring the situation, and only a few bakeries were found to be non-compliant. Rest assured, appropriate legal measures are underway," assured an FSSAI official. 

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News Network
September 20,2024

Udupi: A vigilant Railway Protection Force (RPF) constable, Aparna K T, demonstrated remarkable presence of mind when she rescued a student who slipped while trying to board a moving train at Udupi Railway Station on Friday morning.

The incident occurred as passenger train number 06602 arrived at the station around 7:30 AM. The student, traveling from Mangaluru to Gokarna, had briefly alighted to purchase snacks. However, as the train began moving, she hurried back towards the carriage with the snacks in hand. In her rush, she lost her footing, slipping dangerously between the platform and the moving train.

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Woman constable Aparna K T was given a cash reward of Rs 5000.

 

Constable Aparna, who had been closely monitoring the passengers, immediately sprang into action. “I saw her running towards the train and alerted everyone by blowing my whistle. She slipped, and her legs were caught between the platform and the train. Without hesitation, I pulled her out with the help of others nearby,” she recalled.

Thanks to Aparna’s quick thinking and the swift response of the railway staff, the train was stopped in time. Railway personnel, including the guard and loco pilot, were immediately informed, and they acted promptly to halt the train using both flag signals and a walkie-talkie.

RPF Inspector Madhusoodhanan PV arrived at the scene shortly after to check on the passenger's condition. The shaken but uninjured student was given water and helped back onto the train to safely continue her journey.

In an added measure of care, the RPF post at Bhatkal was notified to follow up on the passenger’s well-being during her journey. The student, fortunately, reached her destination without further incident.

The heroic rescue was captured on CCTV and has since gone viral on social media, earning widespread praise. In recognition of her bravery, Regional Railway Manager (RRM) Karwar awarded Constable Aparna a cash reward of ₹5,000, commending her quick action that averted a potentially tragic accident.

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