Mangaluru: Dr. Ronald Colaco, prominent NRI entrepreneur and philanthropist, who was felicitated with a ‘Civic Honour’ here, said that his work has merely been a fulfillment of his duty towards society.
Dr. Colaco was felicitated with the honour as he was recently conferred with the ‘Certificate of Excellence’ by the World Book of Records, London.
Dr. Colaco and his wife Jean were felicitated at the Father Muller Convention Center on Friday. The program was presided over by the Archbishop of Bengaluru Diocese Most Rev. Dr. Peter Machado.
Receiving the ‘Civic Honour’, Dr. Colaco thanked all who had stood by him and supported him in his efforts at social service over the decades. He gave a special word of thanks to his wife Jean Colaco, reminiscing that, during his wedding, his wife and he had vowed to use a part of their earnings for social work. “I have only been fulfilling the vow we took then, considering it a duty towards society. My work has not been an effort to gain name or fame,” he added.
Dr. Colaco thanked the media for its support in not just earning him appreciation but also earning a doctorate for social service.
The philanthropist said that, while he was happy to receive the honour, “It would have satisfied me greatly if the organizing committee had spent the time, money and energy on social work.”
Speaking on the importance of social and religious harmony, Dr. Colaco reminded, “When all human beings have the same body structure, our roles as human beings should always get prominence over our differences in the name of religion and caste,” pointing out to the presence of people from various religions harmoniously in one program.
He also pointed out to the fact that a meaningful life is as important as the number of years we add on to our age. He added, “The most important bank balance for humans is in the ‘Bank of Heaven’, where the ‘richness of our hearts’ would be calculated on the basis of the hearts we won or responded to. Living on good terms with our neighbours is a basic step in adding to the balance here, in ensuring we get a shower of blessings.”
Dr. Colaco also spoke on the need for introspection, saying leaders in society were paying greater attention to pointing out the mistakes of others rather than analyzing themselves.
Closing his address, the philanthropist asked the audience to take an oath on the occasion to contribute to society to the best of one’s ability.
Dr. Yenepoya Abdulla Kunhi, Chancellor, Yenepoya Deemed University; Swami Jitakamanandaji Maharaj, President of Ramakrishna Math, Mangaluru; and Dr Machado also addressed the gathering.
Deputy Leader of the Opposition in the Karnataka Assembly U T Khader sent his congratulatory message to be read in his absence.
Former Chief Whip of the Legislative Council Ivan D’Souza gave the vote of thanks. Actor Aparna was the master of ceremony.
The Blue Angels choir offered prayer and also songs in Konkani, English and Kannada in appreciation of Dr. Colaco.
Most Rev. Dr. Gerald Isaac Lobo, Bishop Udupi Diocese; Rt Rev. Hemachandra Kumar, Bishop, CSI Karnataka Southern Diocese; Most Rev. Dr. Lawrence Mukkuzhy, Bishop Belthangady Diocese; Most Rev. Dr. Francis Serrao, Bishop Shivamogga Diocese; Most Rev. Dr. Henry D’Souza, Bishop Bellary Diocese; Dr. Shantaram Shetty, Chairman, Tejaswini Hospital; Rajayogini B K Vishweshwari, In-Charge Brahma Kumari Centre, Mangaluru; Maladi Ajith Kumar Rai, President Buntara Yane Nadavara Mathr Sangha; Rajshekar Kotian, President Rastriya Billawara Maha Mandala; U T Ifthikar Ali and Walter Nandalike were the guests of honour during the event.
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New Delhi, Aug 13 (PTI): The Enforcement Directorate said on Wednesday it has arrested a woman, who claims to be an actor and a cosmetologist, under the anti-money laundering law in a case of alleged fraud and misrepresentation.
The agency said the purported links of the woman, Sandeepa Virk, with a Reliance Group executive, Angarai Natarajan Sethuraman (President, Corporate Affairs), are also under its scanner. Sethuraman, in a statement, denied any connection with Virk or any transactions related to her.
Virk was taken into custody under the Prevention of Money Laundering Act (PMLA) on Tuesday after searches were conducted against her and her associates in Delhi and Mumbai over the last two days.
A special court sent her to the ED's custody till August 14, the agency said. The woman claims to be the owner of a skin care products selling website named hyboocare.com, which the ED claimed was a "front" for money laundering.
She and her associates are being probed for allegedly exerting undue influence through "misrepresentation" and "defrauding" individuals by soliciting money under false pretences.
According to an Instagram ID of Virk, she is an actor and entrepreneur and the founder of the said website.
The federal agency said in a statement that the woman was also "in touch with" Sethuraman, former director of erstwhile Reliance Capital Limited.
She was communicating with him regarding "illegal liaisoning", the ED claimed, adding that the searches at Sethuraman's residence "confirmed" these allegations.
"Besides, diversion of funds for personal benefit has also been unearthed during the course of the search action," it said.
The ED alleged that public money worth about Rs 18 crore belonging to Reliance Commercial Finance Limited (RCFL) was disbursed to Sethuraman in 2018 by "flouting" prudent lending norms.
The funds were lent under terms that allowed a deferment of the principal amount as well as the interest, with multiple waivers granted and no due diligence conducted, it said.
The ED claimed that besides this, a home loan of Rs 22 crore was provided by Reliance Capital Limited by "violating" the prudential norms. "A large part of these loans are seen to have been eventually siphoned off and remained unpaid," it alleged.
Sethuraman, in a statement, dismissed the allegations as "baseless". He denied any connection with Virk or any transactions related to her.
Detailing about Virk's web portal, the agency said it purportedly sold FDA-approved beauty products. However, the ED said the products listed on the website have been found to be non-existent and the portal lacks a user registration option and is plagued by persistent payment gateway issues.
A scrutiny of the website uncovered minimal social-media engagement, an inactive WhatsApp contact number and an absence of transparent organisational details, all of which reinforce the finding of "non-genuine" commercial activity, the ED claimed.
"These factors, including limited product range, inflated pricing, false claims of FDA approval and technical inconsistencies, indicate that the website serves as a front for laundering funds," it said.
Another social media-hosted bio data of the woman said she is a certified cosmetologist.
The ED said several "incriminating" documents were seized during the searches and the statement of a man named Farrukh Ali, stated to be an associate of Virk, was recorded.
The money-laundering case stems from an FIR lodged by the Punjab Police.
Sethuraman said that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.