I Monetary Advisory (IMA) was an Indian investment company, with headquarters in Bangalore. Its collapse was one in a long line of similar collapses over the preceding few years, of companies purporting to be Islamic banking companies, with investors in India and the United Arab Emirates, that investigating authorities afterwards stated to have been Ponzi schemes, including: Heera Group; Morgenall, Capital Plus, and Capital Infrastructure (all collapsed in 2018); Injaz International, Ajmera, Aleef, Aala Ventures, Ambidant, and Burraqh; and Sunfeast Infotech, SpeakAsia, MMA Forex, Gold AE, Ferryland Tourism, UT Markets and Exential Group. Total losses to investors over 14 such companies have been conservatively estimated at with the loss due to IMA alone estimated at Precursor and founding in 2013 The precursor to I Monetary Advisory was a company co-founded in 2006 by Mohammad Mansoor Khan and a business partner by the name of Iliyas, which they gave the name Iliyas-Mansoor Advisory. This company was not successful, and was dissolved in 2008. Mansoor Khan's next company kept the same IMA initials. Founded in 2013, according to records at the Ministry of Corporate Affairs and contrary to claims made on the company's own website, I Monetary Advisory Private Limited was presented as an Islamic banking company. Mansoor Khan encouraged ulemas and other people with influence in the Muslim community to believe that it was a continuation of the same company founded in 2006 and was a successful business of several years' standing, promising them that the company would build hospitals and schools. Under the umbrella of the IMA Group, it later diversified into other businesses, including jewellery (with the name IMA Jewels a.k.a. IMA Jewellers), real estate (IMA Builders and Developers founded in 2017), bullion trading (IMA Bullion and Trading founded in 2014, IMA Bullion in 2015, and IMA Gold), groceries (Mulberry Greens), pharmacy (Frontline Pharma), hospitals (Frontline Multispeciality Hospital), and publishing. Amongst other things, the publishing company subsidiary published an edition of the Qur'an, and several books by author Muhammed Shuaibullah Khan (Goat of Charity, Features of the Islamic Marriage, and Investment in Joint Stock Companies); the construction company was involved in the construction of Madrassa Maseehul Uloom; and the educational subsidiary funded a computer lab in Darul Uloom Deoband. Further interests included supermarkets, planned shopping malls, and a raft of other subsidiaries (all structured as partnerships): IM Digital, IM Trends, IM Entertainment, IM Zayee, MMK Institute of Education (established