More IMA victims to get refund soon

NT Correspondent

Bengaluru: Another round of money disbursal for the victims of the I Monetary Advisory (IMA) scam is soon to be initiated as Rizwan Arshad, the MLA of Shivajinagar constituency, has requested the competent authority to expedite the liquidated funds to the investors.

On Monday, the MLA met IAS officer Amlan Aditya Biswas, the competent authority overseeing the IMA scam cases, and discussed the matter of dues of depositors to be “settled on priority”. In his letter to Biswas, Arshad said that the victims had incurred huge financial losses. The competent authority overseeing claims in the IMA scam has liquidated the seized gold and diamonds worth up to Rs 80 crore, and has funds to return to depositors who have lost their savings.

"It is heart-breaking to see the financial state of the victims of the scam. Many of them have lost their entire savings, and are struggling to make ends meet. In such circumstances, every rupee counts, and any delay in disbursing the same can have severe consequences. As funds are available, I request you to disburse the amount at the earliest:"

Arshad stated in his letter. Earlier, claims of victims who had invested amounts below Rs 50,000 were settled after IMA's seized assets were auctioned.