Multi-billion IMA scam: HC asks govt to reconsider attaching Roshan Baig's assets

News Network
April 18, 2021

Bengaluru, Apr 18: The High Court has directed the Karnataka government to reconsider the stand and take necessary decisions on attaching properties connected to former minister R Roshan Baig in connection with the multi-billion I Monetary Advisory (IMA) scam.

A division bench, headed by Chief Justice Abhay Shreeniwas Oka, also directed the government to consider paying the competent authority Rs 12.82 crore, spent by the IMA Group, to reconstruct a government school in Shivajinagar.

The bench noted that the government has completely ignored the powers vesting in it under the Karnataka Protection Interest of Depositors in Financial Establishments (KPID) Act 2004 on the question of attaching the properties of Baig. It said the government has only considered one aspect as to whether Baig had taken any financial benefits from the IMA group.

"If we accept the submission of the state that question of attachment of properties will be considered only after the submission of the final report of CBI, in every such case such a stand can be taken by the state government. It will defeat the very object of enactment in particular section 3 (2) of KPID Act," the bench said.

The court was informed that IMA had spent Rs 10.82 crore on construction and maintenance at V K Obaidullah Government School in Shivajinagar. The IMA group had entered into a Memorandum of Understanding (MoU) with the Block Education Officer. The competent authority, appointed under the KPID Act, had written to the Principal Secretary, Revenue Department, seeking payment of Rs 12.82 crore so that the money can be returned to the depositors. The bench asked the government to consider both attaching the school building and to pay Rs 12.82 crore to the competent authority.

“We are sure that the state government will seriously consider this issue, as prima facie, we are of the opinion that investors’ money deposited with IMA group cannot be converted to the construction of a school building of the state government,” the court said.

The Central Bureau of Investigation (CBI), meanwhile, submitted that it is going to challenge the recent High Court order quashing the supplementary charge sheets filed against IPS officer Hemanth Nimbalkar.

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News Network
January 6,2025

Bengaluru, Jan 6: Most wanted Maoists operating in deep jungles of Western Ghats, hilly and coastal region of Karnataka have decided to lay down their arms and join the mainstream following the appeal by Chief Minister Siddaramaiah-led Karnataka Congress government.

According to sources, the Maoists have taken the decision following the encounter of Vikram Gowda and the continuous combing operations in the Western Ghat region by the Anti-Naxal Force (ANF) and the Karnataka Police.

Sources said that top leaders Mundagaru Latha who leads the Tunga Naxal Wing in the state; Sundari, Vanajakshi, Jeesha, the most wanted Maoists of south India; K. Vasantha from Andhra Pradesh and Mareppa Aroli have decided to surrender and lay down their arms.

Maoist leader Sundari’s brother Anand, who was also a Naxal and returned to the mainstream, stated, “They will welcome her home if she decides to lay down arms. Let her and associates stop the struggle and live like common people. It’s 17 years since she had gone away from home. We will be happy if she comes back to us.”

“Sundari, surrender before the government and come back home,” he appealed in Kutlur of Mangaluru district.

The surrender procedure will happen in two to three days, sources confirmed.

The sources also revealed that the Maoists had written a letter in this regard to the Citizen’s Forum, a progressive organisation and the members of the forum have discussed the matter already with Chief Minister Siddaramaiah.

CM Siddaramaiah welcomed the proposal and gave the green signal for authorities to start the surrender procedures.

The Maoists have demanded that the surrender process should take place in a dignified manner and that their self-respect should not be harmed. They have also demanded that they should not be prevented from exercising their rights under a democratic system.

The Maoists have also demanded that they should not be made to languish in prisons. The 'false' cases against them should be closed and cooperation has to be extended for them after surrender to obtain bail. It has also been demanded that all cases must be brought under one court and trial has to be expedited.

They have also demanded financial support from the government to shape their lives. The package has to be applied to other surrendered Maoists who are presently in prison. They have also sought clarification on whether Karnataka, Tamil Nadu and Kerala states will take one stand on the matter.

The Maoists have also demanded a judicial investigation of the Vikram Gowda encounter.

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News Network
January 9,2025

Mangaluru: In a significant development, Mescom has proposed a phased electricity tariff hike starting with Rs 0.70 per unit for the fiscal year 2025-26. The proposal has been submitted to the Karnataka Electricity Regulatory Commission (KERC) for approval, signaling a potential increase in electricity costs for consumers.

Mescom emphasized that the current tariff structure is insufficient to meet operational expenses and manage revenue effectively. To address this, the company has invited public objections to the proposed hike.

Currently, the electricity supply cost is Rs 9.23 per unit, while the consumer tariff stands at Rs 8.53 per unit, leading to a shortfall of Rs 0.70 per unit. For the financial year 2023-24, Mescom reported revenue of Rs 5,924.73 crore against an expenditure of Rs 6,310.39 crore, resulting in a deficit of Rs 367.66 crore. For the 2025-26 fiscal year, projected revenue is Rs 5,850.81 crore, with an actual requirement of Rs 5,961.63 crore, creating a deficit of Rs 110.82 crore.

In a first, Mescom has submitted a multi-year tariff revision proposal to KERC. The plan outlines a hike of Rs 0.70 per unit for 2025-26, followed by Rs 0.37 per unit for 2026-27 and Rs 0.54 per unit for 2027-28.

"An increase in electricity tariff is inevitable," stated Jayakumar R, Managing Director of Mescom. "Mescom has submitted a proposal in this regard to KERC."

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News Network
January 8,2025

tannirbhavi.jpg

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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