IMA scam: Karnataka govt sanctions CBI to prosecute 5 police officials including 2 IPS officers

The list includes the incumbent Inspector-General of Police (IGP) & Additional Commissioner of Police (Administration) of Bengaluru Hemant Nimbalkar — who then served as the IGP of Criminal Investigation Department (CID),

With the Central Bureau of Investigation (CBI) probe related to the multi-crore I Monetary Advisory (IMA) scam underway, the Karnataka government Monday sanctioned the prosecution of five police officers including two Indian Police Service (IPS) officers.

The list includes the incumbent Inspector-General of Police (IGP) & Additional Commissioner of Police (Administration) of Bengaluru Hemant Nimbalkar — who then served as the IGP of Criminal Investigation Department (CID), Economic Offences Division (EOD), Ajay Hilori (then Deputy Commissioner of Police – Bengaluru (East), E B Sridhara (then Deputy Superintendent of Police, CID in EOD), M Ramesh (then Commercial Street Police Inspector) and P Gowrishankar (then Sub-Inspector of Commerical Street police station).

While Nimbalkar is a senior officer of the 1998 batch, Hilori is from the 2008 batch, both from the Karnataka cadre.

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According to the CBI report, Nimbalkar — who supervised the enquiry conducted by Sridhara — asserted that the IMA and its group entities are not financial establishments under the definition of KPID Act and the deposits received by them, recommending closure of the enquiry.

The report added that Nimbalkar then reiterated his stand that IMA and its group entities did not violate any provisions of the KPID Act and “thus showed undue interest in order to favour Mohammed Mansoor Khan and IMA that he wanted to protect the activities of Shri Mohammed N{ansoor Khan and save him from any action by Government under the KPID Act”

The CBI has also found that the senior IPS officer in turn “received favours” from Khan “in cash and kind.”

Meanwhile, the report states that Hilori demanded and accepted illegal gratification on various occasions from (main accused) Mohammed Mansoor Khan through Nijamuddin, Director and Operational Manager, IMA for favouring IMA by delaying the report to RBI and for not taking action against IMA on various complaints in connivance with other public servants.

“Further, he also accepted furniture and interior items for his house from IMA when the matter was pending with him by misusing his official position,” the report reads. It added that Hilori also caused “undue delay” in forwarding the report on IMA submitted by his subordinates and was “in connivance with other public servants” to prevent any action against IMA during the relevant period.

The charges against DSP Sridhara — who was appointed to conduct the enquiry on IMA and its entities — include conducting an “improper enquiry” and for failing to “collect relevant documents”, thereby pursuing the case without assessing the business activities and modus operandi adopted by the IMA.

Meanwhile, the report mentioned that Ramesh and Gowrishankar “demanded and accepted illegal gratification on various occasions from Mohammed Mansoor Khan through Vaseem for favouring IMA for not taking action against IMA on various complaints.” While Sridhara was listed as accused number 31 (A-31) in the case, Ramesh and Gowrishankar were termed A-34 and A-35 respectively.

The CBI report further lists several pieces of evidence collected in support of their findings as well.

Meanwhile, as per the prosecution order dated September 11, sanction has been accorded to prosecute the officers under section 197 of Criminal Procedure Code (CrPC) and also under section 170 of Karnataka Police Act (1963) among other punishable offences of the Karnataka Protection of Interest of Depositors in Financial Establishment Act (2004).