BENGALURU: The former chancellor of Alliance University (private) Madhukar G Angur has been accused of embezzling `96.87 crore for personal gains and misusing public money.
The financial irregularities at the institute by Madhukar G Angur was brought to light by a commission appointed by the state government, which was headed by former vice-chancellor Prof M I Savadatti. The Commission submitted its report to the state higher education department on November 8.
A copy of the report, which is available with Express, says that Madhukar G Angur had embezzled `96.87 crore which was income earned as fees from students.
The report says, “Madhukar G Angur is guilty of bypassing the Board of Management in finance and audit; bypassing the Finance Officer in operating accounts; bypassing the registrar and vice-chancellor from discharging statutory duties of preparing budget and annual statement of accounts. His style of functioning has been probably intentional. Embezzlement of fee income to the tune of `41.48 crore has taken place. For this to happen, Madhukar G Angur played a principal role and was responsible for receipt and transfer of funds. He is grossly involved in either plotting or planning in collaboration with others and possibly gained money of the university for himself.”
The report further says that Madhukar is prone to manipulations, malpractices (almost criminal) as seen in the case of buying land, burning registers and entering university campus against the directions of court.
The inquiry commission was appointed on April 30 to look into complaints against Madhukar .
On November 8, the commission submitted a 515-page detailed report where it recommended recovery of the money siphoned off by Madhukar. He caused financial loss of `96.87 crore to the university between August 2010 and early 2016, it says.