HC disposes of pleas related to IMA scam

Taking note of filing of charge sheet by the Central Bureau of Investigation in the financial scam of I-Monetary Advisory (IMA) group of companies, the High Court of Karnataka on Tuesday disposed of the PIL petitions, which had sought probe and action against persons involved in the scam.

Meanwhile, the High Court also observed that it was needless to state that the competent authority, appointed under the provisions of the Karnataka Protection of Interest of Depositors in Financial Establishment (KPIDFE) Act, 2004, would take further appropriate action as per the law in coordination with the investigation agency.

A Division Bench comprising Chief Justice Ritu Rak Awasthi and Justice Sachin Shankar Magadum closed the proceedings on the petitions as it was informed to the Bench by the advocates representing some of the petitioners that Central Bureau of Investigation had filed charge sheets against accused persons and now the competent authority can proceed further as per provisions of the KPIDFE Act.

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Printable version | Jan 21, 2022 8:44:54 AM | https://www.thehindu.com/news/national/karnataka/hc-disposes-of-pleas-related-to-ima-scam/article37779839.ece

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