The High Court on Saturday directed the state government to reconsider the stand and take necessary decisions on attaching properties connected to former minister R Roshan Baig in connection with the I Monetary Advisory (IMA) scam.
A division bench headed by Chief Justice Abhay Shreeniwas Oka directed the government to consider paying competent authority Rs 12.82 cr, spent by the IMA Group, to reconstruct a government school in Shivajinagar.
It noted that the government had completely ignored the powers vested in it under the Karnataka Protection Interest of Depositors in Financial Establishments Act, 2004 on the question of attaching the properties of Baig. It said the government has only considered whether Baig had taken any financial benefits from IMA.