DDs worth Rs 12 lakh left to lapse at MSU

In another case of financial mismanagement at MS University,three demand drafts sent to the university for research purposes were left to lapse,causing the university a loss of Rs 12 lakh. A similar revelation was made by an MSU-constituted committee last week when it was discovered that around 1,000 demand drafts worth Rs 12 lakh were left unclaimed by the university’s accounts department.

In this case,three demand drafts issued by the department of science and technology of the Union government,as research grant were not encashed,the committee’s ongoing investigations revealed.

With this,the total amount lost due to non-encashment of drafts amounts to Rs 24 lakh. This is over and above the Rs 3.26 crore MSU lost after university cheques were encashed using fraudulent means.