Not a partner or stakeholder in IMA group of companies: Roshan Baig
Bengaluru: Bengaluru’s Shivajinagar Assembly Constituency MLA, R Roshan Baig on Monday issued a notice rubbishing the reports of his involvement/partnership in the Ponzi scheme company IMA which became defunct with the money of thousands of investors.
In a audio clip that is alleged to be of the chairman of the IMA group of companies is heard saying he is going to commit suicide as he was fed up with corruption.
However, no information about IMA owner Muhammad Mansoor Khan is ascertained so far. The IMA Jewelry Shops in Shivajinagar and Jayanagar, and offices of IMA Group Institutions have remained closed.
In the video clip he is also heard accusing a local MLA of Shivajinagar constituency of taking Rs. 400 crore from him and not returning it, which led to problems of the operations of the company forcing it to close down. He also accused the MLA of using rowdy element to threaten his family when they sought the money back.
Roshan Baig, the local MLA of Shivajinagar issued a notice through his official twitter handle on Monday and denied reports of his links with the company.
He added “I categorically state that I’m neither a stakeholder/partner of this company in any way or form. My association with IMA group is as a legislator and strictly on the basis of social work that was carried out in my assembly constituency of particularly the V.K Obaidullah School in Shivajinagar which accommodates several thousand students from my constituency. There are several contractors and private companies who participate in developmental works of my constituency and not in any way am O a part of any of those companies”.
He further requested people to not pay attention to the rumors being carried on social media against him while also warning that legal action will be initiated against those found guilty of circulating such messages and materials on social media.
“I profoundly request people and my constituents to not pay attention to fake forwards and to discard any such false information doing rounds. Let it be known that I’ve initiated necessary steps before the appropriate authorities to initiate legal action against such miscreants. All those involved in spreading such false information will be taken to task by appropriate authorities” the notice stated.
Issuing notice on the ongoing IMA issue. pic.twitter.com/GFMzDwWuLC
— Roshan Baig (@rroshanbaig) June 10, 2019
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
