65,258 claims received from IMA depositors for ₹2,695 cr.

The Competent Authority in I Monetary Advisory (IMA) Group of Companies case on Wednesday informed the High Court of Karnataka that 65,258 claims had been received as in opposition to 69,099 accounts making a complete declare of ₹2,695.13 crore in response to public discover issued below Karnataka Protection of Interest of Depositors (KPID) in Financial Establishments Act, 2006.

The standing report submitted by Harsh Gupta, who’s the Special Officer and Competent Authority in IMA circumstances, additionally stated that the primary stage verifications of round 45,000 claimants has been accomplished, and the remaining claimants could be verified inside a month.

The standing report was submitted earlier than a Division Bench comprising Chief Justice Abhay Shreeniwas Oka and Justice Sachin Shankar Magadum in the course of the listening to of PIL petitions although which the HC is monitoring the progress made within the investigation of prison circumstances in opposition to IMA and the method initiated to guard the curiosity of the buyers.

“As per the verification, the net principal payable to the claimants is ₹2,646 crore, which is marginally less than the claim amount of ₹2,695.13 crore. Further, net payable to the claimants is likely to be about ₹1,372 crore after adjusting the payouts received by the depositors from the IMA group,” the report said.

Forensic auditors have been requested to substantiate the verification and their report is more likely to be received in every week’s time, the report said.

The Special Court’s permission has additionally been sought for settlement of claims within the order of precedence, which is in ascending order of eligible declare quantities that permits fully settling 11,492 smaller depositors’ accounts by paying quantities lower than or equal to ₹50,000 with a complete quantity of ₹32 crore, it has been said within the report.