The I Monetary Advisory (IMA) scam shattered many people's plans and hopes as thousands of investors, mostly Muslims, were duped by the so-called Halal investment scheme. The case was handed to the court and IMA founder Mansoor Khan was put behind bars. He recently got bail in ED case but is under trial for 15 other cases.

With all this happening, the hopes of IMA investors getting their money back gets dimmer by the day. But in what came as good news for those thousands of IMA scam victims, the competent authority (CA) informed the high court on Wednesday that the online claim application process will be taken up from November 25 and December 24.

Where to file claims?

IMA scam busted

The authority, which was appointed under the Karnataka Protection of Interest of Depositors in Financial Establishment (KPID) Act, informed the court that depositors and investors can submit their claims online on Depositors will need Aadhaar authentication-based identification, current mobile phone number and address, customer ID given by IMA group at the time of making the deposit, and the financial details like amount deposited, withdrawn, payouts received and the amount claimed.

Alternatively, depositors can submit their claims at any Bangalore One, Karnataka One center and Seva-Sindhu Kendras in person or online.

The justice bench asked the CA to give effective media publication to the claimants under Section 7 of the KPID Act. The court has been adjourned till December 9.