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Wednesday, October 27, 2021

ED attaches properties of ex-chancellor of Alliance University

One bank account, six flats and two pieces of land have been attached.

By: Express News Service | Bengaluru |
September 28, 2021 7:23:44 pm
The ED had initiated a money-laundering investigation against Madhukar G Angur and his associates on the basis of an FIR registered by Bengaluru police.

The Enforcement Directorate (ED) has provisionally attached assets worth Rs 19.43 crore belonging to the former chancellor of Alliance University, Madhukar G Angur, and his family members.

In a press statement, the ED said, “Assets of Madhukar Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and Pavana Dibbur have been attached under the provisions of the Prevention of Money Laundering Act, 2002.”

One bank account, six flats and two pieces of land have been attached.

The ED had initiated a money-laundering investigation against Madhukar G Angur and his associates on the basis of an FIR registered by Bengaluru police.

The ED said, “The probe has revealed that Madhukar G Angur had asked the parents to deposit the fees of their children into illegally opened bank accounts in the name of Srivari Educational Services. Consequently, around Rs 107 crore was deposited in those accounts. This amount was siphoned off by Madhukar Angur and others during 2016 and 2017.”

The investigation has further revealed that a huge amount of money was transferred from the bank account of Srivari Educational Services to personal bank accounts of Madhukar G Angur, Priyanka M Angur, Ravi Kumar K, Shruthi and the same was withdrawn by them in cash and utilized for their personal benefits.

Alliance University has often been mired in controversy. A former vice-chancellor of the university, Ayyappa Dore (53), was murdered in November 2020 and the prime accused in the case is Sudhir Angur, who is the brother of Madhukar Angur.

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