Urdu paper refused to publish notice cautioning investors; ad in English, Kannada dailies didn’t help Red flags had been raised about I Monetary Advisory way back in November last year but thousands of investors, mostly from the Muslim community, failed to get the picture as notices could not be published in Urdu newspapers. Bangalore North Sub Division Assistant Commissioner LC Nagaraj published a public notice on November 16, 2018 in a leading English daily and a vernacular one, but not in the language newspaper they are familiar with. “I wanted the public notice about IMA defaulting in repayment of the depositors’ money to be published in an Urdu daily,” said Nagaraj. “But Daily Salar management refused to publish the public notice due to the reasons best known to them. I suspect the board of directors of IMA had something to do with it,” he added. Nagaraj was baffled that there was no complaint from any investor even after publishing the public notice in the English and vernacular daily. “We had published the public notice against Ambidant Marketing on the same day. We received 7,000 complaints from investors,” he said.
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June 27, 2019
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