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Part– III Bengaluru, FRIDAY,20,NOVEMBER,2020( Karthika,29, ShakaVarsha 1942) No. 569
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 Special Officer and Competent Authority IMA it has come to the notice of the
Government 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 movable properties at Provisionally attached premises w.r.t
Government Gazette Notification No. RD 20 GRC 2017 (P2) dated:06-08-2019
Annexure
S.L Description of property Owner of The relevant document Movable Remarks
No the property property
valuation
(in Rs.)
6 The moveable properties like Mohammed Purchaser: Mohammed Mansoor Rs.34,67,870/- The moveable properties
furniture, Gold melting Mansoor Khan S/o Abid ali khan are being Auctioned and
machines, electronic items Khan S/o Venders:1.Santhoh Levis S/o disposed off with the
etc lying at the premises Abid ali LateNevil Levis 2.Samantha Levis permission of the
located at No.25 (Old khan W/o Santhosh Levis Hon’ble Special Court
No.1/1) B.B.M.P, P.I.D orders
No.79-46-25 Lady Curzon Sale deed date:26/09/2017
Road, Shivaji Nagara, Document No:2944/2017-18
Bengaluru
Sale deed document is registerd in
the office of the Senior Sub
Registrar, Halasuru,BengaluruR.N.I. No. KARBIL/2001/47147 POSTAL REGN. No. RNP/KA/BGS/2202/2017-19
Licensed to post without prepayment WPP No. 297 4
S.L Description of property Owner of The relevant document Movable Remarks
No the property property
valuation
(in Rs.)
14 The moveable properties like Mohammed Purchaser: Mohammed Mansoor Khan Rs.52,30,900/- The moveable properties
furniture, Gold melting Mansoor S/o Abid ali khan are being Auctioned and
machines, electronic items etc Khan S/o Venders:1.M/s Mahaveer Ceramics, disposed off with the
lying at the premises located at Abid ali khan Registered Partnership Representatives permission of the Hon’ble
Old No.10,New No.05, Present Kishore Kumar Parekh and Prasan Special Court orders
No.5, 5/2,5/3 and 5/4 PID Chand 2.AnithaParekh @ Anitha
No.79-46-5, 79-46-5/2, 79-46- Parekh W/o Vasanth Parekh 3.Asha
5/3, 79-46-5/4 Lady Curzon Parekh W/o Kishor Kumar Parekh
road, Civil station, 4.Prasan chand Parekh S/o Phul chand
Bengaluru-560001 Parekh
Sale Deed date:18-02-2016
Document No:5269/2015-16
Sale deed document is registerd in the
office of the Senior Sub Registrar,
Halasuru, Bengaluru
Note: 1. Valuation is subject to Auction process.
2. Auction confirmation is subject to Honb'le special Court order
No.RD 20 GRC 2017 p2
(Vijay D.S)
Under Secretary to Government
Revenue Department (Special Cell)
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