Will return to India in 24-hours, fight legal battle to return money of investors: IMA Chief Mansoor
Bengaluru: In the latest development in IMA Group of Company’s multi-crore fraud involving thousands of investors, the group’s chief Mansoor Khan has released a new video adding that he will return to India within 24-hours.
In a video released on Monday, Khan said that he was planning to India since one month but his ill health did not allow him to travel back to India. Khan also urged people to co-operate with him as he is committed to returning all the money of the investors and asserted his trust in Indian Judiciary.
“I am sure the judiciary will help me recover all the amount we have paid as corruption and extortions, we also have enough assets to recover and pay our investors by liquidating it. I just need some time and co-operation from people” Khan says in the video.
During the seven-minute video Khan also broke down and added that he is not bothered about his health even when he is urgently advised to go for surgery due to cardiac blockages, but he refused it for the sake of returning to India and returning the money of the investors.
Khan also added that he is not in touch with his family and is unaware about their whereabouts.
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Rupee falls 11 paise to 94.27 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 11 paise to 94.27 against US dollar in early trade on Monday driven by persistent dollar demand and a broader shift toward safe-haven assets.
Forex traders said the Indian rupee has hit a rough patch, falling for five consecutive sessions, weighed down by a combination of factors such as the RBI loosening its grip on currency rules and rising oil prices caused by global tensions.
Moreover, investors are becoming cautious again, with foreign institutions pulling money out of the market after a brief period of buying amid rising geopolitical uncertainty.
At the interbank foreign exchange market the rupee opened at 94.25 against the US dollar, then lost some ground and touched 94.27 against the US dollar in initial trade, registering a fall of 11 paise over its previous close. On Friday, the rupee had settled at 94.16 against the American currency.
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Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.09 per cent at 98.44.
Brent crude, the global oil benchmark, was trading higher by 1.16 per cent at USD 106.55 per barrel in futures trade.
A mix of softer economic signals and renewed, even if fragile, hopes of diplomacy pulled the dollar lower again, CR Forex Advisors MD Amit Pabari said, adding that for Rupee, on one hand, a softer dollar offers relief. On the other, uncertainty remains the dominant force.
Meanwhile, India’s forex reserves have crossed USD 703 billion as of April 17, reflecting a consistent build-up of buffers.
"For now, the rupee continues to lean toward gradual weakness. Uncertainty remains the dominant force, shaping both global flows and local reactions," Pabari said.
He further noted that any dips are likely to be bought into, with the 92.80–93.20 zone acting as a strong support. On the upside, 93.50 to 94.50 is expected to define the near-term range.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 518.96 points or 0.68 per cent higher at 77,183.17, while the broader Nifty was trading up 131.30 points or 0.55 per cent at 24,029.25.
Foreign Institutional Investors offloaded equities worth Rs 8,827.87 crore on Friday, according to exchange data.
