Realty, finance firms swindled Rs 3,273 cr, duped 17.93 lakh people in 10 years!

News Network
July 30, 2017

Bengaluru, Jul 30: The fraudulent real-estate and finance firms have duped Rs 17.93 lakh people, swindling them of Rs 3,273 crore between 2006 and 2016 in Karnataka, according to the Criminal Investigation Department.

CID has found that several thousands of people duped in real estate and investment scams in different parts of the state have not approached the police.

Director General of Police H C Kishore Chandra said the economic offences wing of the Crime Investigation Department had confiscated properties worth Rs 594 crore in connection with the scams.

The sleuths are recovering more properties, but of the 100 accused arrested in 422 cases, most are out on bail. A team of 40 CID officials is working exclusively on the cases, Kishore Chandra said.

The money can be returned to victims after the government auctions the confiscated properties, he said.

Of about 6,500 investors cheated by real-estate firm Dreamz Infra, only 2,382 have approached the CID and submitted documents.

Similarly, of the 5,315 investors swindled by TGS Constructions, only 2,750 have turned up with documents. In housing project Gruha Kalyan, only 814 of 2,220 investors have approached the CID.

Such companies are launched with pomp and fanfare with the participation of film stars and celebrities. “They advertise widely, promising good returns on investments, and flats and villas with extravagant features. For a few months, they keep their word,” Kishore Chandra said. But once the investments become a flood, they grab the money and run, he said.  

The owners and their benamis then get busy investing in sites, houses and stocks for themselves. They also produce films and splurge on gold, silver and swanky cars, he said.

The Criminal Investigaton Department is advising investors and buyers to verify the credentials of firms with the Reserve Bank of India, the Security Exchange Bureau of India, Registrar of Companies, and the Registrar of Cooperative Societies.

People are increasingly losing their hard-earned money because they don’t check the credentials of companies they hand their money to, he said.

Under the Protection of Interest of Depositors in Financial Establishments Act of 2004, the CID can confiscate movable and immovable properties of those accused in investment scams.

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News Network
January 17,2025

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Mangaluru, Jan 17: A heart-wrenching accident at Nadupadavu near Kattukodi on the outskirts of the city claimed the life of a young scooter rider this morning. 

The victim, identified as Abubakar Siddiq Razwi (22), son of Moydeen Kunji Bavu and a resident of Nadupadavu, tragically succumbed to his injuries on the spot.

The accident occurred when a scooter traveling from Deralakatte collided with an Ace Tempo heading from Mudipu to Thokkottu.

Abubakar, a final-year student at an Arabic Shariah College in Kasargod, leaves behind a community in mourning. The tempo driver also sustained injuries in the collision.

The Mangaluru South Traffic Police have registered a case and are conducting an investigation into the incident.

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News Network
January 16,2025

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Mumbai: In a shocking incident that has shaken Mumbai, actor Saif Ali Khan was stabbed six times in his residence in Bandra, one of the city’s most affluent areas. Sources in the police revealed that the attacker is suspected to have ties to one of the house helps, who reportedly facilitated the intruder's entry into the actor’s home. The house help is currently under police questioning.

The 54-year-old actor, who sustained one stab wound dangerously close to his spine, underwent surgery at Lilavati Hospital and is now reportedly out of danger.

Mumbai Police, under scrutiny after the audacious attack, stated, "An unidentified person intruded in the residence of actor Saif Ali Khan. The actor and the intruder had a scuffle. The actor is injured and is being treated. Investigation is going on."

CCTV footage at the actor’s residence did not show any unauthorized entry in the two hours leading up to the incident, leading investigators to believe that the attacker had gained access earlier and was waiting for the right moment to strike. Efforts are underway to identify the culprit from available CCTV footage.

Opposition Slams Government on Law and Order

The attack has sparked widespread criticism of Maharashtra’s law and order situation, with the Opposition targeting Chief Minister Devendra Fadnavis and his government. Shiv Sena (UBT) MP Priyanka Chaturvedi questioned Mumbai’s safety standards, particularly in Bandra, an area known for its high concentration of celebrities.

“What a shame that Mumbai sees another high-profile attack. The incident involving Saif Ali Khan raises serious questions about the safety provided by Mumbai Police and the Home Minister,” said Ms. Chaturvedi. She also referenced the murder of veteran politician Baba Siddique and the firing outside actor Salman Khan's home, calling it a series of deliberate attacks aimed at undermining Mumbai’s security.

“Baba Siddique’s family is still waiting for justice. Salman Khan lives in a bulletproof house. Now Saif Ali Khan is attacked—all in Bandra. If celebrities aren’t safe, who in Mumbai is? Wishing Saif Ali Khan a speedy recovery,” she added.

Celebrities Demand Action

Actor Pooja Bhatt also expressed her outrage over the incident, calling for increased police presence in Bandra. Taking to social media platform X, the 52-year-old actor demanded immediate action from authorities, tagging Maharashtra Chief Minister Devendra Fadnavis, his deputies Eknath Shinde and Ajit Pawar, and minister Ashish Shelar.

“Can this lawlessness please be curbed @MumbaiPolice @CPMumbaiPolice? We need more police presence in Bandra. The city, especially the queen of the suburbs, has never felt so unsafe before,” Bhatt tweeted. She further emphasized, “We have laws, but what about order?”

The incident has not only highlighted glaring security lapses in Mumbai but has also intensified the ongoing debate about the safety of both celebrities and ordinary citizens in India’s financial capital. Investigations are ongoing as the police work to apprehend the attacker and restore confidence in the city's safety.

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News Network
January 24,2025

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Mangaluru, Jan 24: A high-level meeting to foster trade ties and attract Japanese companies to Mangaluru was held on Wednesday, focusing on leveraging the region’s robust infrastructure, skilled workforce, and strategic connectivity.

Hosted by Kanara Chamber of Commerce and Industry (KCCI) President Anand G. Pai, the session welcomed a Japanese delegation led by Prof. Gopal Mugeraya, Vice-President of Technical Education at NITTE, and included prominent figures such as Komatsu Shinya, Prefectural Assembly Member and Former Vice Chairman of Japan; Katsutoshi Seiwa, Director of Industrial Technology Innovation Division; and Kotaro Kurosaka, CEO of Sanyo Machinery Company, among others.

Anand G. Pai highlighted KCCI’s pivotal role in promoting trade and commerce, particularly the opportunities offered by the Mangalore Special Economic Zone Limited (MSEZL), which has already garnered interest from a multinational corporation. Pai assured the delegation of KCCI’s unwavering support to facilitate smooth business operations in the region. He also invoked Dakshina Kannada MP Capt. Brijesh Chowta’s "Back to Ooru" vision, urging Indians in Japan to invest in Mangaluru to spur local employment and boost MSMEs.

Capt. Chowta, who felicitated the Japanese delegates, pledged full support, including land allocation, streamlined compliance processes, and potential government grants. He emphasized plans to collaborate with Union Finance Minister Nirmala Sitharaman to secure additional funding for these initiatives.

Mangaluru City South MLA D. Vedavyas Kamath lauded Japan’s technological leadership and appreciated its interest in the region. He also commended MP Chowta’s advocacy for infrastructure development as a foundation for such collaborations.

KCCI Vice-President Ahmed Mudassar, Secretary Aditya Padmanabha Pai, and other key officials were also present at the meeting, which is expected to pave the way for enhanced trade relations and local economic growth.

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