You are using an older browser version. Please use a supported version for the best MSN experience.

Bengaluru ponzi scam: IAS officer stood between Rs 600 crore IMA bailout plan

Since IMA Group founder Mohammed Mansoor Khan fled to the UAE on June 8, despite being under the RBI scanner. Allegations of him receiving aid by authorities have been swirling around. It has now emerged that a Karnataka minister had been aggressively lobbying for a Rs 600 crore bail-out of the IMA founder. Khan had reportedly approached a bank for a huge loan, realising his company was under the RBI scanner, the bank insisted upon a NOC by the state government. He almost succeeded in getting the certificate using his high-level contacts before a senior IAS officer refused to cooperate. The officer took his stand, given his experience with a similar case in the past.

UP NEXT

UP NEXT

More From The Times of India

More From The Times of India

image beaconimage beaconimage beacon