Competent Authority’s letter to govt says ex-minister played key role in promoting IMA group, seeks report from CBI along with list of Baig’s personal assets
BENGALURU:
His denials notwithstanding, the noose of the law seems to be tightening around former Congress minister R Roshan Baig over his links with the Mohammed Mansoor Khan-promoted IMA group. The Bengaluru-based entity is accused of a Ponzi scam to the tune of Rs 4,000 crore, which duped thousands of investors, mostly Muslims, on the pretext of higher returns using ‘Islamic banking’.
Recently released on bail in medical grounds, Baig will not find any respite from the investigation any time soon – and his political career seems doomed – as the Competent Authority appointed in the case has sought the government’s intervention, especially with regard to attachment of his assets.
The Competent Authority has written to the state’s Revenue Department asking it to seek a report from the CBI in this regard, along with a list of personal assets belonging to Baig.
According to the letter accessed by TheBengaluruLive, IAS officer Harsh Gupta, Special Officer and Competent Authority, IMA, said, “As per preliminary facts, Roshan Baig appears to have played a key role in promoting the IMA group and its business activities. As per the KPIDFE Act, 2004 the government may attach personal properties belonging to promoters, managers, etc., when there is shortage of money to repay the dues of deposits, which is so in the instant case. However, the facts presented above could be supplemented by any material available with the investigating agency, viz., CBI, to establish R Roshan Baig’s role as a promoter and beneficiary of the IMA group and its business transactions. Therefore, the government may like to seek a report from the CBI in this regard, along with a list of personal assets belonging to Roshan Baig, before proceeding to take necessary action in the matter for protecting the interest of the depositors.”
‘Items seized from office’
Gupta went on say that “this office had received a report from SIT (Special Investigation Team) that movable property of M/s Mulberry Green Supermarket, which is a unit of the IMA group, has been seized at premises No.111, 1st Floor, Ganesha Towers, Infantry Road, Bengaluru under PF no 69/19, as part of their investigation in the financial scam of IMA group and its related entities.”
“Accordingly, this office issued a notice to the owner of the building for returning the security deposit paid by the IMA group to them on the presumption that the building must have been leased by the IMA group, since movable properties belonging to the group had been seized by the SIT from the building premises. The owner of the building premises vide his reply dated 18.04.2020, said the security deposit of over Rs 2.5 lakh was paid by its tenant. But in his reply he stated that he had executed a lease deed with M/s Danish Publications Pvt Ltd, owned by Roshan Baig, and had collected the security deposit from him. He stated that though the lease deed had expired, the lease arrangement was continuing as per mutual understanding with the tenant, i.e, M/s Danish Publications Pvt Ltd, owned by Roshan Baig.
Baig’s replies
“Thereafter, this office issued a notice to Roshan Baig, asking him to produce the lease document with the IMA group and the return of the security deposit paid by the IMA group, if any, while taking the lease, on the presumption that since the movable property belonging to IMA group had been seized from the premises leased to Roshan Baig, he might have in turn leased it to the IMA group.
“Roshan Baig replied that he does not have any lease agreement with the IMA group and he has not received any security deposit from them.
“Another notice was issued to Roshan Baig on his above-mentioned reply, stating that as per the SIT report movable property belonging to M/s Mulberry Green Supermarket e has been seized from the said premises which is leased to his name. Therefore, he may explain the same reasons.
“In response to the above notice, Roshan Baig stated that he had sold his business M/s Danish Publications to the IMA group company, viz., M/s IMA Publications Pvt Ltd, in the year 2017, along with office furniture, etc. Thereafter, M/s IMA Publications Pvt Ltd was running its office from the same premises for some time before shifting to some other premises and using it for another group concern, viz., Mulberry Greens Supermarket. He (Roshan Baig) has stated in his reply that the MD of IMA Publications Pvt Ltd, Mansoor Khan, should enter into a separate lease deed with the owner of the said building premises and return his security deposit of Rs 2.5 lakh after collecting it from the building owner, but Mansoor Khan had failed to do so. He states that he has no role whatsoever in the IMA group.
‘Replies unacceptable’
“After going through the reply of Roshan Baig, it is felt that contentions taken by him are not acceptable. The facts clearly show that he has allowed the above said building premises, which is leased to him, to be used by M/s IMA Publications Pvt Ltd and later by M/s Mulberry Greens Supermarket office. There is no permission from the owner of the building of the same. Moreover, he does not have any authority to sub-lease the building. Further, in a letter written to the Manager, Jammu and Kashmir Bank, Infantry Road, Bengaluru, which is enclosed with his reply, he stated that M/s IMA Publications Pvt Ltd is a partner publishing company of ‘The Siasat Daily’. Therefore, it amounts to acceptance of his relationship with the IMA group.”
‘Baig, Khan used same office’
Competent Authority Harsh Gupta’s letter in conclusion said, “It is understood that the office of M/s Danish Publications Ltd, publishing a popular newspaper, ‘The Siasat daily’, was frequented quite regularly by Roshan Baig and he also used the same premises on many occasions to meet the public as a sitting MLA of the area. It is informed that the MD of the IMA group, Mohammad Mansoor Khan, also used to frequently use the said premises as his office. It would be common sense to infer that the common usage of a business premises by the sitting MLA and the MD of the IMA group, in the eyes of the gullible public increased their confidence to deposit their hand-earned money with the IMA group.”
