IMA founder has at least 14 properties worth 500 cr

Mohammed Mansoor Khan, the elusive managing director and CEO of the beleaguered IMA Group, is said to own at least 14 properties in various parts of Bengaluru whose value runs into crores.

BBMP documents show that Khan had been paying Rs 8.44 lakh in property tax every year. The properties are located in upmarket areas like Jayanagar, Benson Road, Park Road, Alexander Street, Jayanagar 7th Block, St John’s Church Road, Lady Curzon Road and HBR Layout.

Officials in the BBMP’s revenue wing estimate the value of these properties at more than Rs 500 crore going by the current market value. All the properties are registered in his name, an official said on the condition of anonymity.

BBMP officials have not ruled out the possibility of other properties registered in the name of the IMA Group and are trying to identify them.

Out of the 14 properties, the IMA headquarters on Lady Curzon Road accounted for the highest property tax payment at Rs 4 lakh per year.