‘Deposits returned to 3,243 investors in IMA’

In a relief to a small section of investors in I Monetary Advisory (IMA) Group of Companies, the Competent Authority (CA) on Thursday told the High Court of Karnataka that it has returned either full or partial amount of their deposited sum to 3,243 investors by way of bank transfer. The amount to be returned, with the permission of a special court, was capped at a maximum of ₹50,000 as the total amount available with the CA is only ₹5.3 crore, and has distributed ₹4.92 crore to the 3,243 claimants starting from the lowest amount claimed, the CA informed the court.