Bengaluru: ED arrests builder for cheating investors to the tune of Rs 526 crore

News Network
January 13, 2023

Bengaluru, Jan 13: The Directorate of Enforcement (ED), Bengaluru, arrested builder Mahesh Bhupatkumar Oza, head of the Karan Group Builders and Developers-Mumbai, on Tuesday. The Prevention of Money Laundering Act (PMLA) special court granted his custody for 10 days.

A case was registered against Oza under the PMLA in a fraud and cheating case involving over Rs 500 crore. Multiple cases were registered against him across Karnataka in connection with the fraud and the cheating in real estate projects.

The Criminal Investigation Department (CID), Bengaluru, which had taken up the case, had arrested Oza and he was lodged in Central Prison, Parappana Agrahara.

During the investigation, the officials found that the complainants had invested around Rs 526 crore in different real estate projects undertaken by various groups and individuals. Subsequently, this amount was siphoned off by showing it as to be paid to various persons and collecting cash and commission in lieu of bank entry.

The investigation further revealed that out of the total investment of Rs 526 crore made by the complainants, bulk of the investment of Rs 121.5 crore was made for a real estate project undertaken by Karan Group Builders and Developers.

This amount received for the real estate projects was routed through various entities and subsequently diverted by Oza through another network of entities and people. Investigation is on.

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News Network
September 9,2024

Mangaluru, Sept 9: An action committee has voiced concerns about the construction of a new toll plaza near Sooralpady Masjid on the Mangaluru-Moodbidri-Karkala National Highway 169, 17 km from Nanthoor. Amidst ongoing construction, the Action Committee Against Surathkal Toll Gate claims irregularities and poor site selection.

Committee convener Muneer Katipalla noted that only 50% of the Nanthoor-Moodbidri-Karkala highway upgrade is complete after seven to eight years. The Nanthoor-Vamanjoor stretch remains unfinished, causing traffic issues, while dangerous hillside cutting near Kettikal has forced residents to relocate. Additionally, a flyover near Kaikamba threatens a local market.

Katipalla also criticized the construction of a bypass road, alleging it benefits real estate investors and inflates the project cost, which could increase toll fees. The proposed toll plaza, situated 36 km from Talapady toll gate and 35 km from Brahmarakotlu toll gate, violates distance regulations and is too close to local amenities, raising public objections.

There is growing concern that toll collection might begin before the project's completion, with locals frustrated by unaddressed grievances. Social activist Bava Padarangi, DYFI leader Srinath Kulal, and other community leaders attended the site visit.

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News Network
September 20,2024

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The Israeli military has carried out airstrikes against the Lebanese capital Beirut. On Friday, the military said it had staged a “targeted strike” against the city.

At least five children are among those killed in the attack.

Lebanon’s al-Mayadeen television network said a drone had fired several missiles against Beirut’s heavily-populated Dahiyeh suburb.

According to Lebanon’s official National News (NNA), “five children were martyred in the hostile airstrike.”

The agency added that an F35 jet targeted residential areas with two strikes.

Media outlets cited sources as saying that the attack targeted Ibrahim Aqil, a senior commander of Lebanon’s Hezbollah resistance movement.

Aqil is a member of Hezbollah’s Jihad Council, which is responsible for directing the group’s military and security activities.

He has replaced Fuad Shukr, who was assassinated in an Israeli targeted killing attack against Beirut on July 30. 

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News Network
September 19,2024

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In a grand celebration of patriotism and local pride, Karnataka’s second tallest flagpole, and the tallest in Dakshina Kannada, was officially inaugurated on Wednesday, September 18, at the iconic Kadri Park in Mangaluru.

The event, a significant milestone in the city's Smart City journey, was graced by several prominent leaders. MP Capt Brijesh Chowta, a distinguished guest at the inauguration, spoke passionately about the symbolic importance of the flag. "This towering structure, made possible through the Smart City initiative, elevates the pride of every Indian. Since Prime Minister Narendra Modi took office, national sentiment has deepened. The national flag is not just a symbol, it embodies our self-respect and unity as a nation."

MLA Vedavyas Kamath shared his enthusiasm for the project, emphasizing its importance beyond mere construction. "The flagpole at Kadri Park, funded under the Smart City project, will not only serve as a beacon of patriotism but will also become a significant attraction, enhancing the city's tourism appeal."

Adding to the sense of occasion, Mayor Sudhir Shetty proudly highlighted the monument's grandeur. "Standing at an impressive 75 meters, second only to Belagavi's 110-meter flagpole, this new landmark is a testament to Mangaluru's growth and aspirations. The project, which cost Rs 75 lakh, will feature an advanced lighting system, ensuring it shines brightly, day and night, as a symbol of our national pride."

The ceremony saw the attendance of key dignitaries, including Deputy Mayor Sunita, Standing Committee President Bharath Kumar, Varun Chowta, Ganesh Kulal, MCC opposition leader Praveen Chandra Alva, MCC member Shakeela Kava, former Mayor Jayananda Anchan, Bhaskar K, and former MUDA president Ravishankar Mijar, each contributing to the significance of the occasion.

This towering flagpole, nestled amidst the serene beauty of Kadri Park, is set to become a new emblem of Mangaluru's spirit, uniting both locals and visitors in shared pride and patriotism.

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