Shivanand Neelannavar, promoter of alleged ponzi scheme, held
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,…
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