IMA ponzi scam | Roshan Baig's properties will be attached: Govt tells HC

News Network
June 26, 2021

Bengaluru, June 26: The government of Karnataka has informed the High Court that it is in the process of identifying the properties of former minister Roshan Baig for attachment in connection with the I Monetary Advisory (IMA) scam case.

The government stated that prima facie it has found that Baig has played a key role in promotion of the IMA group, its business activities and has also obtained financial gains.

In the affidavit filed before a division bench headed by Chief Justice Abhay Shreeniwas Oka, Principal Secretary to Revenue department R Manjunath Prasad has stated that a notification to attach the movable and immovable properties of Baig will be issued under the Karnataka Protection of Interest of Investors in Financial Establishments (KPID) 2004. The affidavit stated that a communication had been sent to the competent authority under the KPID Act in the IMA case on May 4, 2021 and a reminder on June 14, 2021 for sending a report after identifying the assets.

“Further, the Commissioner of BBMP as well as Deputy Commissioner, Bengaluru Urban and Deputy Commissioner, Bengaluru Rural district have also been intimated to identify the properties belonging to ex-MLA R Roshan Baig and send the report back to government immediately,” the affidavit said.

It could be recalled that the court had directed the state government to reconsider its stand on attachment of properties of Roshan Baig. This direction was passed after the government maintained that its officers were not well acquainted in such matters, especially when assets concern people not linked to the administration of the company.

The court had directed the state government to act in accordance with section 3 of the Karnataka Protection of Interest of Depositors in Financial Establishments (KPID) Act for attachment of properties of directors and also assets procured out of the money of the depositors. The state government has now said that a notification for attachment of properties as per Section 3 of the KPID Act will be issued as soon as it gets details of the properties.

The bench posted the matter to July 7 for further consideration. The court said it will also take up the issue of Rs 12.82 crore donation made by IMA group to V K Obaidulah Government School in Shivajinagar. The court had directed the state government to take a decision on reimbursement of this amount to the competent authority. In response, the Department of Primary and Secondary Education has informed that the amount received as donation/gift cannot be paid back. 

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News Network
January 4,2025

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Eight members of the Israeli Knesset (parliament) have called upon the regime’s minister of military affairs Israel Katz to instruct the occupation army to destroy all water, food and energy sources in the Gaza Strip “to achieve the war goals.”

The letter to Katz asserted “the Israeli military’s operations were failing to achieve the political objectives set for the war”, the Israeli Haaretz daily newspaper reported. 

Despite Israel’s complete siege on the Gaza Strip and the reduction in aid being allowed into the coastal territory, the legislators said the current plans to displace north Gaza residents to the south are not being implemented “properly”.

The Knesset members urged Katz to re-examine war strategies, asserting that after besieging northern Gaza and displacing its residents, the Israeli military should destroy all energy, food and water sources in the area.

They also called for the killing of anyone who moved within northern Gaza without surrendering by waving a white flag.

The measures should not be limited to northern Gaza, they said, but extended to other regions.

They made no mention of the Israeli captives being held in Gaza, Haaretz noted.

Backed by the United States and its Western allies, Israel launched the war on Gaza on October 7, 2023, after the Palestinian resistance movement Hamas carried out Operation Al-Aqsa Flood against the Israeli regime in response to its decades-long campaign of oppression against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 45,658 Palestinians, mostly women and children, and injured 108,583 others. Thousands more are also missing and presumed dead under rubble.

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News Network
January 15,2025

The US consulate in Bengaluru will hold its ‘site-dedication ceremony’ on January 17, with officials confirming that the location of the upcoming consulate will be disclosed during the event. Sources indicate that the site could be in either the Central Business District or Whitefield.

While the consulate building is under development, visa services may temporarily begin at the JW Marriott hotel, which currently houses the United States Commercial Service (USCS) office.

Bengaluru has long advocated for the establishment of a US consulate, and with its opening, residents of the city and Karnataka will no longer need to travel to other states for their US visa applications.

It was in January of the previous year that External Affairs Minister S. Jaishankar, during his visit to Bengaluru, expressed his intention to urge the US Ambassador to India to establish a consulate in the city. This move follows the announcement during Prime Minister Modi’s June 2023 visit to the US, where it was revealed that two new US consulates would open in Bengaluru and Ahmedabad, and India would set up a mission in Seattle.

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News Network
January 8,2025

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Mangaluru: The Tannirbhavi beach stretch up to the forest department's Tree Park is on the brink of a remarkable transformation under the ‘One Beach, One Destination’ initiative. This ambitious project aims to elevate the beach into a top-tier tourist hotspot through comprehensive upgrades and strategic developments.

Deputy Commissioner Mullai Muhilan MP shared updates during a press briefing on Tuesday, revealing that fresh tenders have been floated for maintaining the main beach. The technical evaluation of tenders for the Tannir Bhavi Blue Flag Beach is nearing completion, with the financial bids set to open shortly. “We are pleased to see major players participating in the tender process,” the DC remarked.

For the main beach, the maintenance contract will span 10 years. Meanwhile, the Blue Flag Beach’s successful bidder will face a progressive financial model—starting with a Rs 50 lakh payment in the first year, escalating to Rs 2 crore by the 10th year, alongside a minimum 5% revenue share for the administration. “Upon completion of the development, the beach will feature continuous activities to enhance its appeal,” he added.

Approximately 90% of the beach’s development work is already complete. Eco-friendly initiatives such as waste management systems and solar installations are operational at the Blue Flag Beach. While entrance work by Mangaluru Smart City Limited is ongoing, the beach remains accessible to the public. Entry fees, set in accordance with Blue Flag guidelines, aim to support sustainable maintenance efforts.

The ‘Blue Flag’ certification represents a global standard in eco-tourism, ensuring clean bathing water, state-of-the-art amenities, safety measures, and sustainable development. Karnataka’s Padubidri and Kasarkod beaches are among the few in India to hold this prestigious certification.

Mangaluru Smart City Limited is spearheading the development of the 1.8-acre area, with an investment of approximately Rs 16 crore. Once completed, the Tannirbhavi Beach is expected to stand out as a vibrant and eco-friendly destination, drawing tourists and locals alike.

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