Seoni (MP), May 30 (PTI): A trainer aircraft overturned while landing at Suktara airstrip in the district on Friday morning but its trainee woman pilot was safe, the police said.

The aircraft flipped over due to a faulty landing, said a police official.

The airstrip is 22 km from the Seoni district headquarters.

The trainee woman pilot who was flying the aircraft alone did not suffer any injuries, said the official.

While the airstrip is maintained by the Madhya Pradesh Public Works Department, it is used by Delhi-based Red Bird Aviation Company to run a pilot training school.

District collector Sanskriti Jain said the concerned department has been asked to conduct an inquiry, after which the exact cause of the accident will become clear.

Employees of the Red Bird Aviation Company emptied the fuel tank of the aircraft immediately after the incident. A major tragedy was averted as the aircraft did not catch fire during the crash-landing, said the police official.

Barghat Sub Divisional Officer of Police (SDOP) Lalit Ghatre said the employees of Red Bird Aviation Company did not inform the police about the incident which took place under Kurai police station limits.

They informed the Directorate General of Civil Aviation's Bhopal office which in turn alerted the police. The police then contacted the company's airstrip manager Santosh Sanodia and obtained details, Ghatre said.

When contacted for his comments, Sanodia refused to speak.

Meanwhile, a DGCA team will soon reach Suktara airstrip and prepare a report after an inspection, the police official said.

According to preliminary information, the trainee pilot tried to land the aircraft with the front landing gear instead of the rear one, due to which the aircraft went out of control and overturned, officials said.

Flights of trainee aircraft from Suktara airstrip have been stopped for the time being, they added.

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Belagavi (Karnataka) (PTI): A case was registered with regard to the alleged multi-crore deposit scam in Karnataka, and police arrested a person running the firm, accused of attracting deposits from the public by promising extremely high returns, a police official said on Sunday.

Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, were booked after they could not return money to depositors after attracting investments from thousands of people by promising a 36 per cent annual return, in a Ponzi-style deposit scheme, Belagavi Police Commissioner Bhushan Gulabrao Borase said in a press conference here.

The accused has been secured, raids are underway at his offices and residence, and the case will be transferred to the CID for further investigation, he added.

"An FIR has been registered at Malmaruti Police Station invoking relevant sections of the Banning of Unregulated Deposit Schemes (BUDS) Act, the Karnataka Protection of Interest of Depositors (KPID) Act, and the Bharatiya Nyaya Sanhita. The complaint has been received against one Shivanand Neelannavar. He had solicited deposits from the public with the promise of a 3 per cent return per month," Borase said.

According to police sources, Neelannavar was unable to pay depositors their money. As the complaints grew, the district authorities initiated action against him.

Borase said the initial investigations indicated that thousands of people had deposited money in the firm and that the scale of the fraud was substantial.

The Commissioner said Neelannavar had been secured, and searches were continuing at multiple locations linked to him.

"The person has now been secured as we speak. Raids are being conducted at his offices as well as his residential premises," he said.

He further said the case would be handed over to the CID in accordance with Karnataka State Police guidelines.

"As per Karnataka State Police guidelines, this case will be transferred to the CID. We have already written a letter to the DGP and IGP," he added.

Belagavi Deputy Commissioner Mohammad Roshan said the district administration had initiated inquiries nearly one-and-a-half months ago after receiving market intelligence inputs regarding suspected financial misappropriation by Shivam Associates.

"About one-and-a-half months ago, we started receiving market intelligence regarding financial misappropriation by this organisation called Shivam Associates, run by Neelannavar," he said.

Roshan said two parallel inquiries were initiated -- one through the Assistant Registrar of Cooperative Societies and another led by the Assistant Commissioner under provisions of the KPID Act.

"The scope of the inquiry was to examine whether there were any financial wrongdoings, any possibility of diversion of deposit funds, any suspicious financial transactions, and any unregulated deposit mobilisation," he said.

He said the Assistant Commissioner had verified several documents, digital records, bank account details and depositors' information during the inquiry.

"Based on the detailed report submitted by the Assistant Commissioner, which pointed to suspected diversion of funds and the existence of several documents such as issued cheques and hand-loan documents, I forwarded the report to the Additional Chief Secretary of the Revenue Department as mandated under the Act," Roshan said.

"I would like to inform all the people that these are Ponzi schemes. Anyone assuring returns of more than 8-9 per cent should immediately trigger suspicion," he said.

Roshan also appealed to investors and members of the public to approach the Malmaruti Police Station with any complaints or information related to the scheme.

Meanwhile, sources said the alleged fraud could run into several thousand crore rupees, with preliminary information suggesting that more than 35,000 people may have invested in the scheme. Investigators are also probing the possible involvement of bank officials after they found transactions worth several crores were allegedly routed through four bank accounts across three private banks.

According to sources, more than Rs 2,500 crore was allegedly transferred through online transactions alone, while over Rs 75 crore per month was allegedly paid out to investors as interest. Authorities have reportedly frozen four bank accounts linked to Neelanavar.

The focus of the probe has now shifted to why the suspicious transactions were allegedly not flagged to the Financial Intelligence Unit, the Enforcement Directorate or the Income Tax Department.