Published: 13th January 2022
This former VC, accused of misappropriating Rs 107 crore uni funds, moves court. Here's why
His arrest was made in connection with the prevention of a money laundering case for cheating about 4,500 students' parents to the tune of Rs 107 crore
Former Vice-Chancellor of Alliance University, Madhukar G Angur, who was under arrest by the Enforcement Directorate (ED), has now moved Karnataka High Court. He is challenging the trial court order that sent him to judicial custody in the first place. He moved a bail plea as well which is yet to be heard.
The former VC alleged in his first plea challenging court order that Section 167 CrPC is not applicable to agencies, only to the police. Via a plea filed by his counsel, he also stated that he has corporated with the investigation on every occasion and proceeded to lay accusations on the ED that they are misusing their powers.
It was on January 8 that the ED arrested former VC of Alliance University Madhukar G Angur. This arrest was made in connection with the prevention of a money laundering case for cheating about 4,500 students' parents to the tune of Rs 107 crore by allegedly misappropriating university funds. Earlier, as many as four cases were registered against him. It was on the basis of these FIRs that the money-laundering investigation was initiated by the ED, who found that he was involved via different means, as per a report in IANS.
Here's what happened
Between the years 2016 and 2017, the three accused Madhukar Angur, Priyanka BS and Ravi Kumar had physically lodged themselves inside the campus in Bengaluru. It was during this time that the former VC and the others informed parents not to deposit fees in the university's official account, instead, to do so into the illegally opened bank accounts by Madhukar Angur and others in the name of Srivari Educational Services. This information was passed on to parents via emails and physical notices.
In this way, parents of over 4,500 students were convinced to deposit the fee in the illegal bank account and the amount, which has come up to Rs 107 crore, was siphoned off by the former VC and others.
"The accused was produced before the City Civil and Sessions Judge and Special Judge for PMLA cases at Bengaluru on Saturday. The ED sought the judicial custody of the accused. The court after hearing the arguments of both the sides allowed the move of the ED. The court has remanded him to seven days judicial custody," said the ED official, as per a report in IANS.