ED arrests ponzi company MD Misbah Mukarram for allegedly defrauding people

News Network
November 17, 2022

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Bengaluru, Nov 17: The Directorate of Enforcement (ED) has arrested the managing director of Injaz International, Misbahuddin S alias Misbauddin S Mukarram under the Prevention of Money Laundering Act (PMLA), 2002. The accused had allegedly cheated people of huge funds in a Ponzi scam.

According to ED officials, during the investigation of the scam, they found that the accused had cheated the investors by siphoning off huge sums of money after luring depositors with promises of high returns against their investment. 

A special PMLA court on Thursday remanded Misbahuddin in ED custody till November 19. 

ED had initiated a money laundering investigation on the basis of an FIR registered against M/s Injaz International and associated Group located at Bengaluru under sections of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and Chit Funds Act, 1982 and under section 420 of IPC by Wilson Garden Police Station in September 2017.

The then revenue inspector of Yelahanka taluk tahsildar's office, Ananth Padmanabha, had filed a complaint with the police against Injaz International stating that a probe was conducted after the 42nd State-level coordination committee meeting. The company had taken deposits from thousands of investors promising them high returns and cheated them. The case was transferred to CCB. Misbahuddin was arrested by CCB in 2019 for cheating people to the tune of Rs 250 crore. 

The ED found that M/s Injaz International is a partnership firm that was run by Suhail Ahamed Shariff and Misbahuddin S. M/s Injaz International accepted deposits from investors, cheated them and violated RBI guidelines. M/s Injaz International ran investment schemes by luring depositors with promises of high returns since the year 2016. The money was routed through multiple bank accounts, the firm had not done audits or had filed ITR returns.

M/s Injaz International diverted the amount from depositors to various individuals including its partners and related entity M/s Injaz Builders and Developers. Further investigation is on. 

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News Network
November 25,2024

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Bengaluru: Karnataka Chief Minister Siddaramaiah has instructed the Hindu Religious Endowment Department to submit a proposal for constructing a gold chariot for the presiding deity of the state, Chamundeshwari, official sources said on Monday.

The directive follows a request from Member of Legislative Council (MLC) Dinesh Gooligowda, who highlighted the historical and cultural significance of the Chamundeshwari Temple on Chamundi Hill in Mysuru, which dates back to the 12th century AD.

Gooligowda noted that the existing wooden chariot, donated by devotees from Coimbatore, Tamil Nadu, has deteriorated over time.

“Devotees have expressed their desire to organise a ‘rathotsava’ using a gold chariot for Goddess Chamundeshwari. This proposal has been under consideration for some time, with an estimated cost of Rs 100 crore,” the MLC said.

He emphasised that the government’s financial involvement would not be required, as devotees are willing to contribute towards making the chariot a reality.

Gooligowda proposed a deadline for the 2025 Dasara festival for the completion of the chariot, ensuring it is ready for the grand procession featuring the idol of Chamundeshwari.

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News Network
November 25,2024

Udupi: Six junior artists from the prequel of Kannada blockbuster film ‘Kantara’ were injured, when the bus they were travelling in overturned in the district, police said on Monday.

According to police, the accident occurred near Jadkal on Sunday night when the mini-bus carrying the crew of the film overturned.

“The incident happened while they were returning to Kollur after completing the shoot at Mudoor in Jadkal. The mini-bus was carrying 20 junior artistes when it met with the accident,” a police officer said.

The injured were rushed to hospitals in Jadkal and Kundapur for treatment, they said.

The Kollur police are investigating the matter.

"The news making rounds is completely false. The Kantara: Chapter 1 team began shooting at 06:00 AM today, and everything is proceeding as normal. A minor accident occurred 20 kilometres away from the shooting location, involving a local bus carrying some members of the Kantara team. However, no injuries were reported," a source close to the production said.

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News Network
November 27,2024

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Mangaluru: Dakshina Kannada MP Captain Brijesh Chowta recently met with Union Minister for Railways Ashwini Vaishnav to discuss urgent concerns regarding the region's railway infrastructure development. Key issues raised during the meeting included the long-pending Mangaluru-Bengaluru connectivity, the Shiradi Ghat stretch, and other vital railway concerns impacting the region.

In addition to discussing these issues, Captain Chowta submitted a letter requesting the Union Minister's intervention and support. The letter emphasized the need to merge Konkan Railway with Indian Railways and called for the doubling of railway tracks between Bengaluru and Mangaluru, which would significantly improve rail connectivity between the state capital and Mangaluru.

Further, Captain Chowta raised concerns about enhancing passenger facilities along the region's rail routes, particularly the need for better services between Subrahmanya and Mangaluru.

To bring more attention to these pressing issues, Captain Chowta took to social media, urging the state government’s support. In a tweet on his official X handle, he requested Chief Minister Siddaramaiah to expedite the resolution of these concerns. “In this direction, I request our Karnataka government led by CM Shri @siddaramaiah to kindly provide the necessary state support for the swift redressal of various concerns pertaining to both Konkan Railways as well as HMRDC to ease movement of both people and cargo in this important stretch between Mangalore and Bangalore,” he posted.

The meeting with the Union Minister was attended by Bengaluru Rural MP Dr. CN Manjunath, Udupi-Chikmagalur MP Kota Srinivas Poojary, and Uttara Karnataka MP Vishweshwara Hegde Kageri, all of whom supported the discussion on enhancing railway infrastructure in the region.

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