Belagavi: Owner of Shivam Associates held for running illegal investment scheme
Belagavi: City Police Commissioner Bushan Borase has said that Shivanand Neelannavar, owner of Shivam Associates, has been taken into custody for having violated Reserve Bank of India (RBI) rules by running an unauthorized transaction scheme and getting thousands of people to deposit money.
The police registered an FIR on Friday night and questioned Neelannavar, who is also suspected to be involved in money laundering, in the case.
On Thursday evening, Assistant Commissioner Shravan Nayak, accompanied by officials of the Cooperation Department, conducted a preliminary investigation that followed a search of about 24 hours at the offices of Shivanand Neelannavar, owner of Shivam Associates. The operation is said to have been conducted under directions of Deputy Commissioner Mohammad Roshan.
The officials held the raid over allegations of a money-circulation racket, and reportedly seized important financial documents from the office of Shivam Associates. Preliminary findings suggested that about 5,000 investors were made to invest nearly Rs 4,600 crore through pyramid-style scheme. Documents related to the financial transactions were seized from an apartment and two offices of Shivam Associates for further scrutiny.
AC Nayak is said to have submitted a detailed preliminary report on the probe to the DC on Friday, sources said, and senior officials of the Crime Investigation Department (CID) are expected to take over the case soon.
Statements made by Shivananda Neelannavar, a native of Unkal, Hubballi, at a recent event in Kadur went viral on social media. He was seen declaring that he had built a big empire and, having 15,000 guns, was not afraid of anyone. It is learned that he had said that, if needed, he would also show up as CM in 2028.
The viral video is learned to have drawn the attention of the authorities to Shivam Associates and led them to conduct the raid.
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Karnataka urges Centre to scrap NEET-UG from 2026, restore state powers to conduct CET
Bengaluru (PTI): The Karnataka government on Saturday reiterated its demand before the Centre to scrap the NEET-UG examination from the academic year 2026 onwards and restore the powers of states to conduct their own transparent and merit-based Common Entrance Tests.
State Medical Education Minister Sharan Prakash Patil, in a statement, emphasised that Karnataka has a long-standing legacy of administering fair, transparent, student-friendly and merit-oriented entrance examinations through the Karnataka Examinations Authority (KEA).
He noted that the CET system in Karnataka has for decades enabled lakhs of deserving students, especially from rural, middle-class and economically weaker sections, to secure professional education opportunities based on merit, hard work and academic consistency.
The minister said the Karnataka CET model has been widely appreciated for its transparency, accountability and efficient conduct, helping meritorious students shape their future with confidence and instilling faith among the younger generation in the integrity of the education system.
He said the NEET experience over the past several years has raised serious concerns across the country.
According to him, repeated allegations and incidents of question paper leaks, impersonation, organised cheating rackets, manipulation, technical irregularities and lack of adequate accountability have severely damaged the credibility of the examination process conducted by the National Testing Agency (NTA).
Pointing to recent controversies surrounding NEET examinations, the Minister said these issues have caused stress, uncertainty and mental trauma among students and parents. Repeated reports of malpractice expose the inability of central agencies to ensure a completely fair and foolproof examination system at the national level.
He added that confidence among students in the integrity of the examination process has been deeply shaken.
Stressing that medical education is a critical sector that determines the future healthcare strength of the country, Patil said admissions must be based on a system that is transparent, corruption-free and sensitive to regional and educational diversity.
He said a centralised examination model that repeatedly faces allegations of irregularities cannot be imposed on states that have demonstrated efficient and credible examination mechanisms.
The minister also highlighted that Karnataka’s CET system has successfully balanced merit with accessibility and ensured fair opportunities for students from all sections of society.
Patil said the state government has already written to the Government of India seeking the abolition of NEET and permission to conduct admissions through the Karnataka CET system.
He urged the Union government to respect the federal structure of the Constitution and allow states to conduct entrance examinations through credible agencies such as KEA.
Restoring the CET system would protect students’ interests and rebuild public confidence in the admission process, Patil said.
The minister reiterated that the state government will continue to pursue the matter in the interest of students, parents and the future of medical education in Karnataka.
