Mangaluru Police seek custody of prime accused in multi-crore fraud case
Mangaluru (PTI): The Mangaluru City Police have filed a formal petition before the jurisdictional court seeking custody of the prime accused in a multi-crore investment fraud case, officials said on Tuesday.
Roshan Saldanha, a resident of Bajal in Mangaluru, is currently in judicial custody, they said.
He is accused of duping investors of several crores of rupees through fraudulent investment schemes that promised high returns, police said, adding that multiple complaints have been lodged against him by victims from various parts of Dakshina Kannada and beyond, alleging that they were misled by Saldanha's schemes and guarantees.
According to Police Commissioner Sudhir Kumar Reddy, in one case, Rs 10 crore has been fleeced from an investor.
The case involves the use of forged documents, shell companies, and sophisticated methods of financial manipulation, sources said.
The police now seek custodial interrogation to uncover the full extent of the fraud, track the flow of funds, identify accomplices, and determine whether more victims are involved.
Investigators in the police department believe that Saldanha may have operated through multiple channels to project legitimacy, thereby gaining the confidence of unsuspecting investors. The case has garnered widespread public interest given the high value of the fraud and its ripple effect on individuals and families across the region.
Meanwhile, authorities have urged the public to come forward with any additional complaints or information related to the case.
The investigation is ongoing and further revelations are expected once custodial interrogation commences.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
