News Karnataka
Monday, February 26 2024

CBI investigates Rs 300 crore misappropriation at KSOU

WhatsApp Image 2023 10 07 at 6.54.28 AM
Photo Credit : News Karnataka

Mysuru: The Central Bureau of Investigation (CBI) has officially initiated a case against individuals linked to the Karnataka State Open University (KSOU). This case revolves around alleged financial improprieties exceeding Rs 300 crore within the context of a partnership scheme involving various educational institutions.

The KSOU, headquartered in Mysuru, initiated a collaborative venture that included educational institutions across India and abroad. An investigation uncovered financial irregularities during a comprehensive audit of the university’s financial records, specifically focusing on the fiscal years 2013-14 and 2014-15. It revealed a significant discrepancy related to a mandatory Rs 50 crore deposit expected from partner organizations.

Under the partnership program, educational institutions associated with KSOU are responsible for collecting funds from students, including registration fees, examination charges, and other related fees. These funds are then supposed to be remitted to the Open University. However, certain institutions did not follow this protocol, resulting in the non-deposit of Rs 250 crore during the academic years from 2009-10 to 2012-13. Additionally, an extra Rs 50 crore was unaccounted for during the financial years 2013-14 and 2014-15, which was discovered during a detailed audit.

Upon discovering this significant financial irregularity, the Open University’s Board of Directors promptly informed the state government. Subsequently, the state government requested the CBI to conduct a comprehensive investigation into the alleged misappropriation of funds by KSOU, Mysore, and its associated institutions nationwide. The inquiry will encompass the period from 2009-10 to 2015-16, with the objective of holding those responsible accountable and ensuring the transparent operation of educational partnerships.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp