IMA and its Group Entities are invovled in ponzi scheme scam to the tune of Rupees 3,000 crore approximately and affecting about one lakh Depositors. The Depositors are located at various places within and outside the Country, but mostly in Karnataka.
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Government of Karnataka has attached movable and immovable properties belonging to the IMA Group and other related persons to the tune of Rupees 475 crore approximately till date.
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The Competent Authority appointed by the Government of Karnataka under relevant Act has filed applications for confirmation of these attachments in the Special Court at Bengaluru, which are at various stages of Hearing.
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Competent Authority has in the meanwhile taken steps for disposal of certain perishable/depreciable movable properties through public auction with the permission of the Special Court
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Competent Authority has also announced dates for submission of claims from the depositors and secured creditors from 25/11/2020 to 24/12/2020.
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The Claims received during this period would be verified and submitted for approval of the Special Court.
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Thereafter, the claims will be settled once the interim attachments of the properties of IMA Group have been confirmed by the Special Court and the Money has been realised through auction of those confirmed attachments.
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The Claims will be settled among the Claimants as per the approval of the Special Court.

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