BENGALURU: In a setback to Housing Minister Zameer Ahmed Khan, the Karnataka High Court on Saturday refused to quash the criminal proceedings initiated against him by the ACB, for allegedly possessing assets disproportionate to his known sources of income to the tune of Rs 87.44 crore since 2005.
In June 2019, the ACB registered a case against him after it received a report from the ED on certain transactions between Zameer and Mohammed Mansoor Khan, promoter of I-Monetary Advisory Private Limited.
The ED recovered a statement from Mansoor Khan that he had paid Rs 63 crore to Zameer, including Rs 9.38 crore to purchase a plot, cash of Rs 29.38 crore and Rs 25 crore as loan, which was not returned. After this, the ACB searched the premises of Zameer in Aug 2021, and seized documents which revealed he is in possession of assets disproportionate to his known sources of income.