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Freezing of APSCHE accounts: AP Govt to Act Against Bank
Andhra Pradesh Human Resource Development Minister Ganta Srinivas Rao on Friday said the government had decided to file a defamation suit against the State Bank of Hyderabad for freezing the accounts of Andhra Pradesh State Council of Higher Education (APSCHE).
Freezing of APSCHE accounts
Hyderabad: Andhra Pradesh Human Resource Development Minister Ganta Srinivas Rao on Friday said the government had decided to file a defamation suit against the State Bank of Hyderabad for freezing the accounts of Andhra Pradesh State Council of Higher Education (APSCHE).
Speaking to newspersons at Andhra Pradesh Secretariat here on Friday, Rao alleged that on behest of the Telangana State government the SBH had frozen accounts of the APSCHE. The account contained Rs 25 core funds. “We will file a defamation suit against the SBH-Shantinagar Branch in Hyderabad for freezing APSCHE account,” Rao said.
He accused Telangana State government of directing the bank to freeze their accounts with vengeance. It may be mentioned here that Telangana State Council of Higher Education had reportedly dashed off letters to the various banks asking them to freeze the accounts of APSCHE.
The APSCHE has deposits and cash worth Rs 120 crore in Andhra Bank, Canara Bank, State Bank of India and State Bank of Hyderabad The officials of TSCHE alleged that APSCHE was illegally siphoning off the money that has to be actually shared between the two states.
TSCHE officials also alleged that APSCHE was purposely delaying the bifurcation of asserts of the council. They said that bifurcation file remained pending for last three months. “We are short of funds to run daily activity. “The funds and asserts have to be divided in the ration of 48:52 between Telangana and AP,” an official said.
