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Part– III
Xೆಂಗಳೂರು, ಶುಕರ್ವಾರ ,20,ನವೆಂಬರ್, 2020(ಕಾತಿರ್ಕ, 29, ಶಕವಷ ೧೯೪2)
Bengaluru, FRIDAY,20,NOVEMBER,2020( Karthika,29, ShakaVarsha 1942)
£ÀA.567
No. 567
GOVERNMENT OF KARNATAKA
NO: RD 20 GRC 2017(P-2)
Karnataka Government Secretariat,
M.S. Building
Bengaluru, Dated: 19.11.2020.
NOTIFICATION
Whereas, upon report of the Investigation agency Central Bureau of Investigation (CBI) after due investigation
of the complaint of depositors, it has come to the notice of the Government by Special Officer and Competent
Authority IMA, that the M/s I Monetary Advisory (IMA) and its group entities are involved in fraudulent
transactions by clandestinely and illegally collecting deposits or money from the general public and thereafter have
failed to return the same either after maturity or on demand made by the depositors or complainants with promised
interest and other assured benefits and hereby failed to render the services promised to them.
And whereas, it has further come to the notice of the Government that M/s I Monetary Advisory (IMA) and its
group entities and people associating with them have been acquiring lands, movable and immovable properties,
cash and others from and out of the deposits or money so collected, from the depositors or complainants and
thereby deviating from the intended purposes of accepting the deposits or money.
2
And whereas, the Government has reason to believe that the actions of the M/s I Monetary Advisory (IMA) and
its group entities and people associating with them are acting in and detrimental to the interest of the depositors or
complainants whose intention was to defraud the innocent depositors, and it has become necessary to protect the
interest of the depositors of the M/s I Monetary Advisory (IMA) and its group entities.
And whereas, now the Government after considering the report of the Competent Authority and satisfying itself
about the urgent need to protect the interest of the depositors and in exercise of the powers conferred by sub-
section (2) of Section 3 of the Karnataka Protection of Interest of Depositors in Financial Establishment Act, 2004
(Karnataka Act 30 of 2005) hereby makes the following order, namely:
“ORDER’’
Now therefore, in exercise of the powers conferred by sub - section (2) of Section 3 of the Karnataka
Protection of Interest of Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005), the
Government under the circumstances stated above having satisfied that in order to protect the interest of
depositors it is necessary to attach the movable property believed to belong to M/s I Monetary Advisory (IMA) and its
group entities. Therefore, the Government hereby attaches the movable properties as specified in Annexure to this
order believed to have been acquired by the M/s I Monetary Advisory (IMA) and its group entities either in its own
name or in the name of any other person from and out of the deposits collected by the M/s I Monetary Advisory (IMA)
and its group entities and where it transpires that such money or such other properties of the said financial
establishment, or the personal assets of the promoters, partners, directors, managers or members or any other
person of the said financial establishment is not sufficient for the repayment of the deposits or interest or such
other assured benefits to the depositors.
Note: All the aforesaid movable property, from the date of publication of this order in the Official Gazette, shall
forthwith vest with the Competent Authority, who has been appointed by the Government, pending further orders
from the Special Court.
By Order and in the name of the
Governor of Karnataka
(Vijay. D.S)
Under Secretary to Government
Revenue Department (Special Cell)
3
List of Seizure of Medical Equipments belonging to private persons who had entered into
lease/rental agreements with IMA & its group entities.
Annexure
Sl
No
Description of
property
Owner of the property
The relevant
document
Market value
Remarks
1
a)
The
moveable
properties
like
Medical Equipments,
furniture,
Electronic
Equipments
other
items etc lying at
FrontLine Hospital,
No. 07 Venkataswamy
Naidu Road, Tasker
town, Bengaluru.
a) As per Lease Deed
I
Monetary
Advisory
Counil (R) a registered
society having its registered
office
at
No.56/5,
2nd
floor,Nandi
Complex,
Bowring
Hospital
Road,
Shivaji Nagar, Bangalore-
560001.with
directors
1.Mr.Mohammed Masoor
Khan
2.Mr.Nasir Hussain
3.Mr.Naveed Ahmed
4.Mr.Vijaya Raghavan
5.Mrs.Afshan Tabassum
6.Mr.Parveez Nissar Beig
7.Dr.Tanveen Ahmed Khan
8.Dr.(Mrs)Syeda
Fathimunnissa
9.Mr.Arshad Khan
10.Mr.Afsar Pasha
11.Mr.Nijazamuddin
Azeemuddin
a) Registration
Certificate No:
DRO/SIN/SOR/58/14-
15 dated:19-05-2014
a) Moveable items
stored in this premises
like
Medical
Equipments, furniture
Electronic Equipments
Air conditioners etc
have been valuated for
Rs.2,08,52,000/-
by
authorized valuators.
a)
The
moveable
properties
like
Medical Equipments,
furniture, Electronic
Equipments, Air
conditioners
other
items etc are being
Auctioned
and
disposed off with the
permission
of
the
Hon’ble
Special
Court orders
4
1
b) The Security
advance deposit
Rs.12,00,000/-given at
the stage of leasing of
this property premises.
b) 1) M/s SkylarkMansions
Pvt ltd., a company having its
registered office at Skylark
Chambers, No.37/21,
Yellappa Chetty Layout,
Ulsoor Road, Bangalore-
560042, Represented by its
managing director Mr.Saleem
Sheriff
2) Mrs.Shamshad Begum and
P.Muzamil Basha,both
residing at No.09, M.R Street,
Parmanbut, North Arcot
District, Tamil Nadu,
3)Mr.H.B Abdul Azeem,
residing at No.10, Serpentine
Street,Richmond Town,
Bangalore-560025,
4)Mr.K S Dakhina Murthy
and Mrs.Sushmita
Bhattacharjee,both residing at
Flat No.107, Sapphire Nest,
No.113, Jagadish nagar,
Bangalore-560075
(b) The lease
agreement document
no:
IN-
KA36715049633023P
Dated:22/05/2017
b) 12,00,000/-
(b)The security
deposit amount is
available with the
owners of the
premises
1. valuation is subject to Auction process.
2.Auction confirmation is subject to Honb'le special Court order
No.RD 20 GRC 2017p2
(Vijay D.S)
Under Secretary to Government
Revenue Department (Special Cell)
ಮುದರ್ಕರು ಹಾಗೂ ಪರ್ಕಾಶಕರು:- ಸಂಕಲನಾಧಿಕಾರಿಗಳು, ಕನಾರ್ಟಕ ರಾಜಯ್ಪತರ್, ಸಕಾರ್ರಿ ಕೇಂದರ್ ಮುದರ್ಣಾಲಯ, ಬೆಂಗಳೂರು
R.N.I. No. KARBIL/2001/47147 POSTAL REGN. No. RNP/KA/BGS/2202/2017-19
Licensed to post without prepayment WPP No. 297
SUNIL
GARDE
Digitally signed by SUNIL GARDE
Date: 2020.11.20 13:12:17 +05'30'