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
December 12,2024

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New Delhi: The Union Cabinet on Thursday approved bills to implement 'One Nation, One Election', and the draft legislations are likely to be introduced in Parliament in the ongoing Winter session, sources said.

The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

The government is keen on holding wider consultations on bills which are likely to be referred to a parliamentary committee.

Sources said the government was also keen to consult the Speakers of various state legislative assemblies through the committee.

Moving ahead with its 'one nation, one election' plan, the government in September accepted the recommendations of the high-level committee for holding simultaneous polls for the Lok Sabha, state assemblies and local bodies in a phased manner.

Citing recommendations of the high-level committee, sources had said one of the proposed bills would seek to amend Article 82A by adding sub-clause (1) relating to the appointed date. It will also seek to insert sub-clause (2) to Article 82A relating to the end of terms of the Lok Sabha and state legislative assemblies together.

It also proposes to amend Article 83(2) and insert new sub-clauses (3) and (4) relating to the duration and dissolution of the Lok Sabha. It also has provisions related to the dissolution of the legislative assemblies and amending Article 327 to insert the term simultaneous elections.

This bill will not require ratification by at least 50 per cent of the states, the recommendation said.

However, any move to hold local body elections together with Lok Sabha and state assemblies will require ratification by at least 50 per cent of the state assemblies as it deals with matters relating to state affairs.

Another bill will be an ordinary one to amend provisions in three laws dealing with Union territories having legislative assemblies -- Puducherry, Delhi and Jammu and Kashmir -- to align the terms of these Houses with other legislative assemblies and the Lok Sabha as proposed in the first constitutional amendment bill.

The statutes it proposes to amend are the Government of National Capital Territory of Delhi Act-1991, the Government of Union Territories Act-1963 and the Jammu and Kashmir Reorganisation Act-2019.

The proposed bill will be an ordinary legislation not requiring a change in the Constitution and will also not need ratification by the states.

The high-level committee had proposed amendments to three Articles, insertion of 12 new sub-clauses in the existing articles and tweaking three laws related to Union Territories having legislative assemblies. The total number of amendments and new insertions stands at 18.

In its report submitted to the government in March, just before the general election was announced, the panel recommended implementing one nation, one election in two phases.

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News Network
December 25,2024

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Bengaluru: Police Inspector of Khanapur station has been suspended for dereliction of duty by allegedly letting in political leaders and others inside the station while BJP MLC C T Ravi was in custody in connection with a case registered against him, officials said on Wednesday.

The suspension order was issued by the office of Inspector General of Police, North Zone, Belagavi on December 21, they said.

On December 19, Ravi was arrested by the police from the premises of Suvarna Vidhana Soudha in Belagavi for allegedly using a derogatory word against Minister Laxmi Hebbalkar in the legislative council hall.

According to the official order, when C T Ravi was taken to Khanapura police station for safety reasons, Police Inspector Manjunath Nayak, who was in-charge of the station, was told to use the staff and assign suitable duties to them.

It was also ordered to block the entry of any person other than the accused inside the police station. However, many political leaders and mediapersons stormed inside the police station. This created a noisy atmosphere inside the station, it stated.

The order further stated that as a responsible police inspector grade officer, Nayak failed to prevent several political leaders from entering Khanapur Police station, thus creating a tumultuous atmosphere.

He violated the order of superiors, showed negligence and carelessness while performing duty. Therefore, a departmental inquiry was initiated and Nayak was suspended from service with immediate effect for dereliction of duty, the order stated.

According to a police statement issued on Wednesday, after registration of case under section 75 (sexual harassment) and 79 (word, gesture or act intended to insult the modesty of a woman) of the Bharatiya Nyaya Sanhita in Hirebagewadi police station here, Ravi was taken into custody and handed over to the investigating officers.

However, Ravi was shifted to Khanapura police station considering the security aspect and the huge crowd gathered near Hirebagewadi police station.

"A large number of mediapersons, supporters and party workers gathered and created a chaotic atmosphere in Khanapura police station. There was also the possibility of additional supporters and Congress workers arriving. All these factors also had the potential to disrupt public order," the police stated.

Keeping in mind Ravi's safety, he was shifted to Ramadurga, it said.

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News Network
December 16,2024

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In a significant milestone, the Dakshina Kannada Zilla Panchayat Higher Primary School in Newpadpu, Harekala, has introduced a bilingual Kannada-English medium this academic year, a move spearheaded by Padma Shri awardee Harekala Hajabba. The school has so far received 13 admissions for its Class 1 bilingual program.

This initiative is part of a broader effort by the state government, which approved 38 schools across the district to launch bilingual mediums. Expressing his delight, Hajabba shared that he had been advocating for a bilingual school for years. "The bilingual medium will greatly benefit students in this region who otherwise rely on private schools. However, we currently face a shortage of classrooms. Construction of two additional classrooms is underway, and once completed, we expect higher admissions," he said.

The school had previously been permitted to introduce LKG and UKG classes in the last academic year. According to the school’s headmistress, Rajeshwari, while the pre-primary sections have seen good enrolment, the bilingual Class 1 faced challenges, securing only 13 students. She attributed this to the late notification of permission, which arrived a month after the academic year began, leading many children to enroll elsewhere.

Rajeshwari remains optimistic about the future. "We expect better admissions next academic year as awareness about bilingual education at this government school grows," she said, adding that the classroom shortage will soon be addressed.

Deputy Director of Public Instruction (DDPI) Venkatesha Subraya Patagara noted that bilingual schools across Dakshina Kannada have generally received a positive response, with some schools enrolling more than 100 students. The effort to offer bilingual education in government schools marks a step forward in providing affordable, quality education to underserved regions.

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