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CID uncovers huge deposit fraud in Shivam Associates case

Belagavi: The Criminal Investigation Department (CID) has confirmed large-scale financial fraud in the Shivam Associates investment scheme, with investigators revealing that the firms owner, Shivanand Neelannavar, collected approximately Rs 2,400 crore from more than 40,700 investors through an unauthorised deposit network. Addressing a press conference in Belagavi, CID Deputy Inspector General Bhimashankar Guled said the Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .

7 Jun 2026 9:49 pm