The High Court of Karnataka has said that the provisions of the Karnataka Protection of Interest of Depositors in Financial Establishment (KPIDFE) Act, 2004, cannot be invoked against a company after
CBI files charge sheet against former Karnataka minister in scam prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.
The scam-tainted group had spent ₹12.82 crore on development of the school
The State government on Saturday found itself in an embarrassing situation with the High Court of Karnataka directing it to take a decision on returning ₹12.82 crore that the scam-tainted IMA Group spent for redevelopment and maintenance of V.K. Obaidullah Government School in Shivajinagar.
On former Minister’s property
The court also directed the government to reconsider its decision on attaching the properties of former Minister R. Roshan Baig while pointing out that there is no need for the government to wait for the investigation report from the Central Bureau of Investigation (CBI) as law empowers the authorities to attach properties based on other relevant materials.
Picture used for representational purpose only
COIMBATORE: A special court for the Tamil Nadu Protection of Interest of Depositors (In Financial Establishment) Act, 1997, on Wednesday convicted a 41-year-old Salem resident and her 21-year-old son for cheating 76 depositors of Rs 1.15 crore in connection with a poultry farm scam.
The court sentenced G Mallika and her son G Mukesh to 10 years of imprisonment and slapped a penalty of Rs 75 lakh on them. As the accused did not appear before the court on Wednesday, special judge A S Ravi issued a non-bailable warrant against them.
In March 2012, S K Ganesan, 47, his wife Mallika and their sons Mukesh and G Manoj Kumar, 19, had started two poultry companies – Raja Rajeswari Poultry Farm and Sri Raja Rajeswari Poultry Farm – at Perundurai in Erode district. “The firms offered 375 chicks and fodder for Rs 1 lakh deposit. They promised to give Rs 7,000 per month as maintenance charge and Rs 8,000 as yearly incentive. The investors