BENGALURU: The State Government informed the Karnataka High Court on Tuesday that it has issued two notifications to attach the movable and immovable properties of former minister R Roshan Baig in the IMA scam case to protect the interest of depositors.
The government stated before a division bench of Chief Justice Abhay Shreeniwas Oka and Justice Suraj Govindaraj that the two notifications were issued to attach Baig’s properties, considering a report submitted by Harsh Gupta, the Competent Authority and Special Officer for IMA cases, and the chargesheet filed by the CBI.
The value of movable assets will be evaluated at the time of auction. The current market value of sites and commercial complexes will be toted up with the help of sub-registrar. The value quoted in the documents was what Baig mentioned while filing his affidavit ahead of the 2018 Assembly elections, the government said. It issued notifications after repeated directions from the court to protect the interest of thousands of depositors.
Rs 62.26 cr excess paid
The State Government informed the court that it has issued another notification to attach the excess amount paid to top 100 depositors.The excess is over and above the principal deposit amount, which was paid to the depositors in the form of periodic returns. The top 100, who had deposited Rs 85.89 crore with IMA, were paid 137.55 crore. Of this, Rs 62.26 crore has been paid from the money deposited by other depositors and not from any income or profit generated from a bonafide business activity.
Details of some movable and immovable assets
Cash balance in 6 banks accounts of Baig, his wife and firms owned by him, worth Rs 2.03 crore
Shares worth Rs 6.80 lakh
Gold and silver worth Rs 42.40 lakh
3 sites worth Rs 8.91 crore
2 commercial complexes worth Rs 1.73 crores
2 houses worth Rs 3.64 crore