BELAGAVI: The Visvesvaraya Technological University (VTU) is yet to take a decision on the Karnataka government’s request for Rs 250 crore from its recently recovered corpus for the development of the University Visvesvaraya College of Engineering (UVCE) in Bengaluru.
VTU Vice-Chancellor Prof Vidyashankar S confirmed that the university had received a letter from the government Secretary seeking the funds.
However, he clarified that VTU had not taken any decision to hand over the money to the government.
“We have received a letter from the Secretary in this regard. However, the university has not taken any decision to give the funds to the government,” Prof Vidyashankar said.
Reacting to questions from reporters during a press conference on Wednesday, the VC indirectly denied giving the funds to the government, saying that the council had yet to take a decision. He also said that the council had passed a resolution to make the entire amount received from the Income Tax Department into a fixed deposit for 10 years to preserve the funds and use the interest amount to pay the salaries of employees.
The government has sought Rs 250 crore from VTU’s recovered corpus for the development of UVCE. VTU recently recovered more than Rs 610 crore after a prolonged dispute with the Income Tax Department, and it is yet to receive about Rs 90 crore from the IT Department.
The university had earlier stated that the recovered amount would be kept in a nationalised bank, with the interest eventually being used for staff salaries.
