Duped IMA investors may start getting some money back

More than a year and a half after the I Monetary Advisory (IMA) Group of Companies investment fraud came to light in 2019, investors, who lost their savings, can look forward to getting some of their funds back. The competent authority overseeing the disbursal of funds announced on Thursday that a maximum of up to ₹50,000 will be transferred to all eligible claimants. Payment to those who can be covered in the approximately ₹5 crore available with the competent authority will be made on March 12, said Harsh Gupta, special officer and competent authority for IMA case in a press release on Thursday. The amount will be calculated after adjusting the payouts or profits received by claimants from their respective principal amounts,