Eligible IMA investors can get up to 50,000 refunds from today

More than a year and a half after the I Monetary Advisory (IMA) Group of Companies Investment Fraud surfaced in 2019, investors who lost their savings look forward to regaining some of their funds. The competent authority, overseeing the disbursement of the funds announced on Thursday, said that up to a maximum of ₹ 50,000 would be transferred to all eligible claimants.

In a press release on Thursday, Harsh Gupta, Special Officer and Competent Officer for the IMA case, said that payment could be made in about 5 crores available with the competent authority. The amount will be calculated after adjusting the payment or profit received by the claimants from their respective principal amount,

However, not all claimants will be paid simultaneously. The settlement is being done as an ad-hoc payment, depositors have to pay at least the eligible amount. The press release stated, “The court and the sale of the same will confirm the attachment of the assets of the IMA as per the court orders and whenever more amount is available,” the press release said.

In February, the competent authority had told the Karnataka High Court that 65,258 claims had been received against 69,099 accounts, out of a total claim ent of 2,695.13 crore. In the status report submitted to the court, Gupta stated that the first-stage verification of about 45,000 claimants had been completed, and the remaining claimants would be verified within a month.

Those who have filed an online claim application either through Aadhaar OTP authentication or through UTR number authentication, will be eligible to receive the amount only after completion of additional certification.

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check status

Applicants can check their claim verification and payment status on the website imaclaims.karanataka.gov.in. In the menu, click on ‘On-line claim information’ and select ‘Know your claim status’.

For questions, call 080-46885959 or send an email to [email protected]