IMA Scam Victims to Receive Compensation Before Ramzan

The Hindu Bureau reported that Revenue Minister Krishna Byre Gowda has assured that all victims of the multi-crore IMA scam will receive their due compensation before Ramzan. During a meeting held on February 24, 2025, it was discussed that over 69,069 depositors had invested ₹3,213.58 crore in IMA, with ₹1,400 crore having been refunded as dividends over the years. Compensation has already been distributed to 60,902 victims, amounting to ₹87.43 crore, with assets worth ₹534.5 crore seized from IMA. The government plans to auction these assets and distribute the proceeds accordingly. Minister Gowda emphasized that compensation will be disbursed at least ten days before Ramzan, ensuring timely relief for eligible victims. The process involves verifying claims through online applications and cross-referencing with IMA records and Aadhaar data, with compensation transferred to nominated beneficiaries in cases where the primary depositor has passed away.

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