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IMA Ponzi Scam: Respite for Depositors as Karnataka Govt opens 1-month Window to File Claims

Representative image.

Representative image.

Applicants can apply online starting November 25 till December 24, after which no claim claims will be accepted. Claims can also be submitted at Bangalore One/Karnataka One centres or the Atal Jan Snehi Kendras across the state.

The Karnataka government has opened a one-month window for depositors of the IMA Ponzi scheme to file their claims. Applicants can apply online starting November 25 till December 24, after which no claim claims will be accepted.

Claims can also be submitted at Bangalore One/Karnataka One centres or the Atal Jan Snehi Kendras across the state. A simple two-stage process has been put in place where claimants can provide basic personal details like mobile number and bank account details, while in the second stage, they would have to provide scheme-wise deposit details.

Special officer in-charge of the case Harsh Gupta said minimal details are required for submitting claims based on Aadhaar authentication. “If they do not have Aadhaar, they can submit details based on the transaction number received from their bank after transferring Rs 1 from their account to our account. If they are using the bank account declared to IMA (used to get the return from IMA), then they need not give any other details for identification like bond certificate or scheme share certificate," said Gupta.

While the process on clearing the claims will begin shortly, the wait for depositors to get their money back might take a little over six months. "This claim process will be over in one month and after that we expect that it will take a minimum of six months for the civil court to confirm the attachments for use, to auction and realise the money. I foresee around five-six months’ time till we get there," Gupta told reporters.

The government expects to receive at least Rs 75,000 to one lakh claims and the claim amounts could be approximately Rs 2,900 crore in principal. So far, properties worth Rs 475 crore have been attached, while Rs 1500 crore is estimated to get adjusted towards returns already received by depositors.

For further details, depositors can contact the dedicated call centre line at 08064885959 or check on the website imaclaims.karnataka.gov.in or mail at splocaima20@gmail.com. Claimants can also text on WhatsApp number 7975568880.