The Belagavi police arrested Shivanand S. Neelannavar, the promoter of Shivam Associates, a financial firm that had been operating without regulatory approvals, on Friday (May 15).

Shivam Associates (ACCUMEN), the firm he founded, faces charges of collecting deposits from the general public by promising 36% returns, without approval from the Reserve Bank of India, Securities and Exchange Board of India, Department of Cooperation, or any other Central or State government agency. Preliminary investigations conducted by officers from the police, revenue and cooperation departments have revealed that over 35,000 persons had invested in the firm. A significant number of them are ex-servicemen. The firm was running a multi-level marketing scheme that had no approvals either. The quantum of funds involved is yet to be determined.

Belagavi Deputy Commissioner Mohammed Roshan told reporters in Belagavi on Saturday (May 16) that the alleged ponzi scheme scam is likely to be transferred to the CID as it has inter-State and inter-district ramifications, in addition to the fact that prima facie, the amount involved crossed ₹50 crore.

He said that investigators are scanning all the documents retrieved from the offices of the firm and the residences of Neelannavar to gather data related to its operations. In most cases, the deposits were received as hand loans. However, there is a High Court judgement which states that hand loans can be treated as deposits in such cases, the Deputy Commissioner said.

“Some time ago, a financial scam cell was set up in the Deputy Commissioner’s office to enforce The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) and the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 (KPID Act). The cell has been tracking the activities of Neelannavar for a few months now,” Mr. Roshan said, explaining that a formal investigation was launched by a team headed by Shravan Nayak, Assistant Commissioner and Sub-Divisional Magistrate. He submitted a 150-page report that clearly showed that the firm had no permission from any government agency to collect deposits, give or receive loans or indulge in any financial transactions with any member of the public.

“A detailed investigation led by Police Commissioner Borase Bhushan Gulabrao also showed that there were several cognisable wrongs done by the firm. Following this, officials of various departments conducted raids on the premises of the firm and the founder. They recovered digital and documentary data. These are being studied for further evidence of wrongdoing. Copies of all relevant documents have been shared with the State government,’’ Mr. Roshan said.

The Deputy Commissioner said a list of depositors has been obtained. It appears that several pensioners deposited their life’s savings into the firm while some land-losing farmers had invested the compensation they received after acquisition. In other cases, some persons were benefiting from inviting others to invest. He appealed to the victims of the scheme to file complaints and seek refunds from the district financial frauds cell. “The issue will now be taken up by a competent authority at the State level that will be appointed soon. It will ensure that all the depositors get refunds as per law,’’ Mr. Roshan said.

Mr. Gulabrao said that an FIR was registered against Neelannavar and his associates based on provisions of the BUDS Act and KPID Act. “Further investigation is on, but the accused is not cooperating with investigators. He is dodging all serious and specific questions by giving vague and unrelated responses. We will seek police custody of the accused as we need him for further investigations,’’ the Police Commissioner said.

“Neelannavar had been holding several public events, where he invited celebrities and artists to speak or perform. In one of the events held in Kadur village, he claimed to have collected over 15,000 guns and weapons. This was a red flag for us. This created suspicions on whether he was trying to build a gang for unlawful activities. Police officers began tracking all his activities from then on. Officers of the police, social media, and IT cell collected all his public statements,’’ he said.

Neelannavar hails from Unkal near Hubballi and later settled in Belagavi. A PU graduate, he has done petty jobs like driving and selling ice-cream. Around 2016, he took loans to invest in the stock market. “This seems to have given him an idea of investing other people’s money in the market. However, his approach did not have the sanction of the law,’’ the Police Commissioner said. He added that most of the transactions of Shivam Associates were done through banks using cheques and a website built for that purpose. Officials have initiated steps to freeze the bank accounts.

“Investigators have collected copies of ads issued by Shivam Associates through social media, pamphlets and other means where a payment of 36% was promised for a minimum investment of ₹1 lakh. We appeal to the public to conduct due diligence before investing their money. For example, when the State Bank of India pays around 6-7% interest for deposits, how can any agency afford to pay 36%? This means that the agency is using methods that do not have the sanction of the law. People should not respond to such impossible claims,’’ he said.

He said officers are tracking some other such companies running ponzi schemes, fake investment schemes, or deposit schemes, and will take action soon.

Published – May 16, 2026 07:12 pm IST

Congress president Mallikarjun Kharge with party MP Priyanka Gandhi Vadra, Karnataka Chief Minister Siddaramaiah, Deputy CM D.K. Shivakumar, and others during the unveiling of a statue of Mahatma Gandhi, at Suvarna Vidhana Soudha in Belagavi, Karnataka, on January 21, 2025.

“Some BJP members keep alleging that Mahatma Gandhi was anti-Hindu. There is no truth in such allegations. He was a true Hindu. He sought reforms and eradication of social evils like untouchability and discrimination,” Karnataka Chief Minister Siddaramaiah said in Belagavi on January 21.

He was speaking at a ceremony to unveil a statue of Gandhiji in front of the Suvarna Soudha.

“Gandhiji was a true Hindu. He was always engaged in meditation and bhajan. Till his last breath, he was chanting the name of Lord Ram. Nathuram Ghodse, a man who was blinded by communal hatred, shot Gandhiji. Even then, Gandhiji said Hey Ram and died. There is no need for a better example to prove that he was a true Hindu,” the CM said. “We believe in the Hindutva as understood by Gandhiji. But the BJP does not believe in it. It believes in dividing the society on the basis of caste and religion.”

“Gandhiji sought reforms, but he was never anti-Hindu. He worked towards abolition of untouchability, empowering women and communal harmony. He wanted Hindus and Muslims to live as brothers. He not only helped us fight against British rule, but was also instrumental in shaping the post-independence government and system of governance. We should all be indebted to him,” he said.

“Most of our saints and reformers have opposed the caste discrimination and other social evils. Saints like Basavanna also fought against such social evils. All such ideals were included in the Constitution by Dr. B. R. Ambedkar. While the Congress believes in the principles of the Constitution, the BJP is opposed to it. BJP has been trying to weaken the Constitution for several years. But we should not allow it. We should all protect the Constitution, and it will protect us. We should take the message of Gandhiji to the next generation. I hope the statue of Gandhiji will help us introspect and work towards an equal society,” the CM said.

“We will organise the Jai Bapu, Jai Bhim, Jai Samvidhan campaign with the aim of conveying Gandhiji’s ideas in a more meaningful way, and towards making Gandhiji’s dream of Gram Swaraj a reality,” he said.

Belagavi:

The Mahajan Commission Report on Belagavi is final, and repeatedly insisting that the district should be merged with Maharashtra is sheer foolishness, stated Karnataka Chief Minister Siddaramaiah on Tuesday.

Responding to a media question in Belagavi regarding the statement made by Aaditya Thackeray, CM Siddaramaiah said the Karnataka government will not tolerate such childish statements.

Criticising the demand to declare Belagavi a Union Territory, CM Siddaramaiah said, “For us, the Mahajan Commission Report is final. Once the Mahajan Report has been accepted, the matter is settled.”

When journalists asked if the government would take action if Maharashtra Ekikaran Samiti members resorted to violence on this issue, the Chief Minister replied, “Whoever indulges in violence, we will not remain silent.”

Earlier, Aaditya Thackeray had said that Marathi-speaking people in Belagavi were being suppressed.

“Since Sunday, the situation has been deteriorating in the region. Our party workers are being detained,” he stated.

The border town of Belagavi has been a part of Karnataka since boundaries were demarcated along linguistic lines under the States Reorganisation Act, 1956.

However, the inter-state border dispute between Karnataka and Maharashtra erupts every now and then.

Commenting on the Panchamasali Lingayat community’s reservation agitation, CM Siddaramaiah said that although the government invited the community’s leaders for discussions, they did not come.

“In a democracy, everyone has the right to protest, and we do not oppose such protests,” he added.

Speaking about the demise of veteran leader S.M. Krishna who was part of the Congress for 46 years before he quit the grand old party, CM Siddaramaiah praised him as an efficient administrator.

“S.M. Krishna served as a member of the Legislative Assembly, Legislative Council, Lok Sabha, and Rajya Sabha,” he said.

“S.M. Krishna had been suffering from illness for the past six months. His demise is a great loss to the state. I pray to God to give strength to his family and admirers to bear the grief and for his soul to rest in peace. I had visited him in the hospital two months ago while he was undergoing treatment,” he said.

The Chief Minister announced that Wednesday would be a state holiday and there will be a three-day mourning period. He also confirmed his participation in the funeral tomorrow.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

The CLP meeting had been called to discuss the strategies to be adopted by the ruling Congress during the ongoing winter session of the legislature in Belagavi.
| Photo Credit: Special Arrangement

The Congress Legislative Party (CLP) meeting and dinner scheduled to be held in Belagavi on December 10 has been cancelled, according the KPCC president and Deputy Chief Minister D.K. Shivakumar. The postponement was necessitated by the passing away of former Chief Minister S.M. Krishna in Bengaluru early in the morning.

A new date would be intimated to the legislators shortly.

The CLP meeting had been called to discuss the strategies to be adopted by the ruling Congress during the ongoing winter session of the legislature.

Officers attend a training workshop for the 21st National Livestock Census 2024 in Belagavi, in Karnataka, on August 29, 2024.
| Photo Credit: Badiger P. K.

The 21st National Livestock Census 2024 will be conducted from September 1 to December 31. On August 29, a workshop was held in Belagavi to train officers and personnel tasked with the census.

Zilla Panchayat Chief Executive Officer Rahul Shindhe directed officers to ensure that counting methods are scientific and the records are created and maintained in a transparent manner.

“This is the first time the census is being conducted using a mobile application. But then, we should ensure that there are no technical or human errors in the process,” he said.

Enumerators should visit all the houses in the district and get complete information. The data of farmers, category of farmers, age of cattle, should be collected and recorded, along with the details of women involved in cattle rearing. “All care should be taken to see that there are no loopholes,” he said.

“Till now, census data was entered in books. But for the first time, the census will be done through smartphones. An exclusive mobile app called ‘21st Livestock Census’ has been developed by the union Animal Husbandry Department. Enumerators should learn to use the app without errors,” Mr Shindhe said.

“Earlier 200 columns had to be filled in the book. This time, information can be entered quickly through the app. The app is designed to work even in places without mobile networks,” he said.

The data should include use of vaccines and medicines for livestock.

“The Animal Husbandry Department has been preparing for this massive survey programme for the past four months. Already, a total of eight master trainers in the district have received training in the first phase in August,” Deputy Director Rajiv Koler said.

Master Trainers Anand Patil and Virupaksha Addanagi addressed the officers.

Livestock census has been going on since 1919. There have been 20 censuses in the last 100 years. This will be the 21st Livestock Census.

Its purpose is to prepare the next plan of the governments based on the census. The data will be used for formulating policies and programmes for farmers and the dairy sector.

Officers will include data from goshalas (shelter for stray cows) too.

Data will be obtained on cattle, ox, buffalo, cow, goat, sheep, chicken, dog, horse, pig, duck and emu birds reared by livestock farmers. Information on stray cattle and dogs is also included. Data on elephants, and cattle in temples will be collected. Any place that has more than 10 cattle, 1,000 chickens, and 50 goats will be considered as a farm.

The operation will be massive. As many as 247 enumerators and 54 supervisors will be involved in Belagavi district, which has 3,24,584 families in urban areas and 8,35,657 families in rural areas.

Hubbali, Karnataka:

Back with the BJP after briefly flirting with the ruling Congress, veteran leader Jagadish Shettar, who is in the fray for the upcoming Lok Sabha elections, said he was confident of being elected to the Lower House of Parliament from the Belagavi district.

Speaking to ANI on Monday, the former Karnataka chief minister said, “I am in regular contact with all fellow party workers and the people in Belagavi. This place holds a special place in my heart. I am confident of repaying the faith that the party has vested in me. I am hopeful of being elected an MP from the Belagavi district.”

Weighing in on the perceived dispute between Marathas and Kannadigas, Shettar said there are no differences between the two communities.

“Here, in Karnataka, the Marathas and Kannadigas are like brothers. There is no difference between the two communities. They all are Indians,” he added.

The BJP on Sunday released its fifth list of 111 candidates for Lok Sabha elections. Former Karnataka Chief Minister Jagadish Shettar, who recently returned to the party from the Congress, was fielded from Belgaum while former state minister K Sudhakar will contest Chikballapur.

Shettar will contest Belagavi in place of sitting MP Mangala Angadi, who was denied renomination.

Shettar, who quit the BJP and switched over to the Congress after being denied a ticket to contest last year’s assembly elections, returned to his old party in January.

A six-time MLA from the constituency, Shettar was reportedly advised by the party to stand down and not seek a fresh term as MLA from the Hubli-Dharwad Central segment, following which his followers expressed their anguish against the BJP’s top leadership.

The 28 Lok Sabha seats in Karnatak will poll in two phases–on April 26 and May 7.

In the 2019 Lok Sabha elections, the Congress and JDS fought together against the BJP but were still decimated. The BJP had won a record 25 seats while the Congress and the JDS won just a single seat each.

The Lok Sabha Elections 2024 will be held in seven phases, starting April 19. The counting of votes has been scheduled for June 4.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)