Authority for IMA cases seeks feedback from depositors on draft claim process

News Network
March 5, 2020

Bengaluru, Mar 5: The Karnataka government has constituted a competent authority for I Monetary Advisory (IMA) cases under the KPIDFE (Karnataka Protection of Interest of Depositors in Financial Establishments) Act, 2004, which is required to call claims from erstwhile depositors of the IMA group of entities under the provisions of the Act, said Harsh Gupta, Special Officer and Competent Authority for IMA cases.

In order to ensure transparency and to avoid harassment to the claimants, an online application software has been developed for accepting claims from the depositors, Gupta stated.

"The claim application can be filed from any of Banglore-1, Karnataka-1 and Seva-Sindhu Kendras of the state government in person or through online. The required documents can be submitted using e-attestation along with claims or at a later date, but prior to the claim settlement. The details of authorities for e-attestation will be informed later," the official stated.

The claimants will have to provide Aadhaar authentication based identification or identification by the designated officer based on alternate documents; current mobile number and address among others.

The details of the draft claim filing process has been put for public feedback on website 'imaclaims.karnataka.gov.in'. The depositors can give their feedback on the website, WhatsApp number or email, Gupta stated.

Based on feedback received from the depositors, the claim process and the claim application software will be finalised, the official said and further informed that the start date for acceptance of claims will be informed through wide publicity at a later date.

"There will be a total time period of 30 days for submission of the claims from the start date of acceptance of claims," Gupta said.

An SIT was investigating the multi-crore IMA Jewels case, where the firm had allegedly cheated a large number of investors after promising them impressive returns on their deposits. The SIT has already arrested several government officials and questioned others including politicians in the matter.

The prime accused and Managing Director of IMA Mohammed Mansoor Khan, who had fled the country after several complaints were registered against him in connection with the scam, has also been arrested.

The state government had constituted an SIT to probe the scam when it first came to light in June earlier this year when more than 4,000 investors trooped outside the showroom after an audio clip purportedly recorded by Khan went viral.

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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
September 20,2024

Starting in the 2025-26 academic year, private universities in Karnataka offering professional courses will no longer conduct separate entrance exams. This decision follows a directive from the state’s Higher Education Department, prompting private universities to form an association and agree to this significant change.

In a recent meeting with Higher Education Minister Dr. M. C. Sudhakar, representatives from 17 private universities confirmed their decision to discontinue individual entrance tests. Of the 27 private universities in the state, 17 offer professional courses, and they have collectively agreed to accept scores from existing national or state-level entrance exams.

“Some universities will consider JEE scores, others will rely on KCET, and a few are inclined towards COMEDK,” Dr. Sudhakar stated, leaving the choice of examination to the universities themselves. However, the department has also suggested that the universities consider a unified entrance test for admissions.

Looking ahead, Dr. Sudhakar hinted that the government may introduce a common entrance test for general degree courses at private universities as well. "As government colleges and universities currently don’t require entrance exams for general degree courses, we haven’t made any decisions on this yet," he explained.

The meeting also addressed concerns over the high fees charged by private universities. To regulate this, the universities were instructed to establish fee fixation committees, headed by retired judges, as required by law. These committees will be responsible for determining tuition fees. Additionally, the government will continue to regulate fees for 40% of seats in professional courses that are filled through KCET.

In an effort to bring greater uniformity among private institutions, the government is considering enacting a common law for all private universities, which would replace the individual acts currently governing each university. This would place all private universities under a single regulatory framework.

This move is expected to streamline the admissions process and create a more standardized system for both professional and general degree programs across Karnataka's private universities.

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News Network
September 25,2024

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In a significant development, a special court tasked with handling cases against Members of Parliament and Members of Legislative Assemblies (MP/MLAs) has ordered that a First Information Report (FIR) be filed regarding the Muda case.

Additionally, the Karnataka Lokayukta, which is an anti-corruption body, has been tasked with investigating allegations against Siddaramaiah, who is reportedly involved in the case.

The court instructed the Lokayukta (an anti-corruption authority) to provide a report within three months. It also ordered the relevant authorities to file a First Information Report (FIR) regarding the case.

Judge Santhosh Gajanan Bhat issued the directive, compelling the Mysuru Lokayukta police to commence an investigation following a formal complaint lodged by Snehamayi Krishna. 

The Karnataka Lokayukta in Mysuru is required to carry out the investigation under Section 156 (3) of the Criminal Procedure Code, which mandates the registration of a First Information Report (FIR).

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