Ex-chancellor of pvt varsity pocketed Rs 97 crore: Probe

515-page report says Angur is prone to manipulation, malpractice

Published: 11th November 2016 02:13 AM  |   Last Updated: 11th November 2016 04:36 AM   |  A+A-

Express News Service

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.

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp