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Probe ordered into Kesava Reddy group irregularities
The Andhra Pradesh government has asked Secretary of School Education P R Sisodia to conduct a thorough probe into the complaints received against Kesava Reddy Group of Schools on the charges of allegedly collecting Rs 500 crore deposits from the parents of about 48,000 students and failing to return the deposit amount.
- Kesava Reddy Group of Schools collected Rs 500 crore deposits from the parents of about 48,000 students and failed to return
- DEOs were never bothered to report to the government
- Ganta assures the parents of affected students not to worry about the education of their wards
Hyderabad: The Andhra Pradesh government has asked Secretary of School Education P R Sisodia to conduct a thorough probe into the complaints received against Kesava Reddy Group of Schools on the charges of allegedly collecting Rs 500 crore deposits from the parents of about 48,000 students and failing to return the deposit amount.
The Kurnool Central Crime Station police arrested the accused and founder of Kesava Reddy School Nagireddy Kesava Reddy (56) of Nandyal on Wednesday evening near the toll gate on the Kurnool-Hyderabad highway. Addressing a press conference in Hyderabad on Thursday, Human Resources Development Minister Ganta Srinivasa Rao assured the parents of the affected students not to worry about the education of their wards.
After reviewing the issue with Chief Secretary I Y R Krishna Rao, Minister said that the Director General of Police J V Ramudu and the CID officials would personally visit Kurnool on Friday to take stock of the situation and collect first-hand information on the issue.
District Educational Officers in the State have also been asked to inquire about the Kesava Reddy Schools located in all the 13 districts and submit details on the operation immediately. Explaining the modus operandi of collecting deposits, Minister said that the accused lured parents of students to pay Rs 4 lakh as deposit by executing promissory notes and a cheque.
In turn, the parents need not pay any school fees of their children until they complete their 10th standard. On top of it, the parents would also get back the deposit of Rs 4 lakh they had deposited by submitting the promissory note and the cheque issued to them at the time of depositing the amount.
The whole issue has come to light when the institution has failed to repay the deposits when parents approached for the same on their children completing their 10th standard, he added. The Minister said that Kesava Reddy had agreed during the preliminary inquiry that he had collected deposits to the tune of Rs 500 crore and ready to repay the same to the parents by selling assets, if given one year time, as their value is enough to meet payment of deposits, Minister said.
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