IMA scam: Eligible investors to get a part of their investments in '3 days'

NT Correspondent

Bengaluru: Investors who had been cheated by the I Monetary Advisory (IMA) Group are expected to get a part of their investments in another two to three days, sources who are in touch with the Competent Authority told News Trail on Saturday.

A special court for cases registered under the Karnataka Protection of Interest of Depositors in Financial Establishments Ect, 2004, approved the disbursal of a second tranche of settlements for investors on October 5.

The Competent Authority will disburse Rs 69 crore which was recovered after auctioning movable assets of IMA, to over 55,000 investors in a couple of days.

So far the Competent Authority has graded the depositors as most affected and least affected. Those most affected will get a higher settlement than those who are least affected.

However, it is also said that the investors who got a share in the first tranche of settlements, won't get any share this time. 

Arif Pasha, president of the Integrated Welfare Association for IMA investors, said that the court order has given a fresh lease of life to the families that had been robbed off their savings.