Unclaimed drafts pile up at MSU

After the 3.26 crore financial fraud in May this year,MSU (Maharaja Sayajirao University) authorities found around 1,000 demand drafts collected by the university had been left unclaimed,leading to a loss of Rs 12 lakh

Written by Express News Service | Vadodara | Published:July 3, 2013 3:39 am

After the 3.26 crore financial fraud in May this year,MSU (Maharaja Sayajirao University) authorities found around 1,000 demand drafts collected by the university had been left unclaimed,leading to a loss of Rs 12 lakh.

A committee formed to probe into financial irregularities found the demand drafts which were collected from candidates applying for the post of permanent and temporary faculty between 2011 and 2012 were not encashed.

The demand drafts were issued by various banks and had to be encashed within three months,failing which they would be rendered invalid.

“We used to collect demand drafts from people applying for teachers’ post which had to be deposited to the bank within three months. We collected around 1,000 such demand drafts between 2011 and 2012 which would amount to Rs 12 lakh,” MSU registrar Amit Dholakia said.

“We are approaching the banks which had issued the demand drafts with request to revalidate them,” he added.

The then accounts officer of MSU Bharat Shah,under whose tenure this happened,is already in jail in connection with the Rs 3.26 crore financial fraud where money was transferred to the account of Gopinath Construction,a private contractor previously involved in various construction activities at the university,using blank cheques and forged signatures.

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