CBI got the nod to investigate two Karnataka
IPS officers in IMA fraud case
M Manikandan
January 29,2020:
New Delhi:
After the Karnataka state government had
given the nod to the Central Bureau of Investigation (CBI) to probe two senior
IPS officers of the southern state in connection with the I-Monetary Advisory
(IMA) Scam, the federal agency is most likely to indict the officers for the
prosecution, said sources familiar with the development.
According to the CBI's letter to the Karnataka
government in December 2019, Hemanth Nimbalkar, former IGP, Economic Offences Wing, Karnataka CID and Ajay Hilory, the then Deputy Commissioner of Police (East) are the two
officers who failed to unearth the scam as they had colluded with the IMA chairman
Mansoor Ali Khan.
A month after the CBI wrote to the Karnataka
government, Chief Minister BS Yeddyurappa on January 7, 2020, permitted for the
prosecution of these IPS officers.
“While examining the facts and circumstances
of this case about the allegations, prima facie, a case has been filed against
these two officers and they should be investigated over these offences,” CM
Yeddyurappa's letter reads.
Though the CBI had filed a charge sheet in
connection with the case in August last year, it did not name these IPS
officials as the state government did not give nod. Instead, the charge sheet
had the names of Mansoor Ali Khan, and 19 other accused including seven company
directors, five members, an auditor, a private person and five private group companies
-- for alleged criminal conspiracy, cheating among additional charges under the
IPC.
In December 2019, the CBI sought Karnataka
government’s sanction to prosecute these IPS officers in connection with the
case.
“ The CBI’s investigations and evidence
collected have prima facie that these officers have indulged into the offences
under section 7 and 11 of the Prevention of Corruption (Amendment) Act 2018 –
pertaining of discharging their official functions and duties as public
servants,” the CBI mentioned in its letter to the Karnataka government.
It is noted Hemanth Nimbalkar was the
supervising officer of CID economic offences wing while investigating the IMA
case. The inquiry team of Ajay Hilory had given a clean chit to IMA director
Mansoor Ali Khan.
The CID had given the clean chit because no unauthorized
deposits were collected and investments of partners, limited liability, and
partnership are exempted under the Karnataka Protection of Interest of
Depositors in Financial Establishments Act, 2004.
However, the CBI sources noted that Rs.4,
000 crore of deposits were illegally raised by the IMA from their investors.
The case came to the limelight after a SIT probe and which was later taken
over by the CBI in 2019. The IMA Company was founded in 2013. Within years it
diversified its business into gold jewellers, publications, real estate and
bullion trading. IMA attracted thousands of investors by promising high
returns.
--
M ManikandanSenior Reporter/ Content Editor
ETV Bharat
National Bureau - New Delhi
Mobile # : 08220198285, 08610282756
