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Kesava Reddy Schools’ assets to be auctioned
Bankers have set the stage for auction of buildings housing Kesava Reddy Schools for recovering the loans taken by the institution. They have announced that this is being done to recover loans which are pending since two years, after several notices issued by them have failed to yield results.
Kurnool: Bankers have set the stage for auction of buildings housing Kesava Reddy Schools for recovering the loans taken by the institution. They have announced that this is being done to recover loans which are pending since two years, after several notices issued by them have failed to yield results.
The banks maintain that if any balance is left after crediting the due loan amounts it would be refunded, as per court orders. Chief Manager of Canara Bank Prabhakar told The Hans India that the assets of Kesava Reddy Schools would be taken over as per law.
Action by the banks comes at a time even as the State government has transferred students of Kesava Reddy Schools to Sri Chaitanya educational institutions. It has declared that the Sri Chaitanya Schools will have nothing to do with the group accounts, buildings and loans of Kesava Reddy.
