Two others including a trustee and principal booked as co-accused; Kuvempunagar Police file FIR

Mysore/Mysuru: A trustee of a private educational institution in the city, is learnt to have been arrested on the charges of misappropriation of over Rs. 4.7 crore belonging to the institution, in connivance with two others.

Gururaj, a trustee of M/s Chaitra Educational Trust, Srirampura 2nd stage, in the city is the arrested person. He has been remanded to judicial custody. The other accused are- B.V. Pushpalatha, also a Trustee and B.U. Dechamma, Principal of M/s Chaitra Education School, who are currently absconding.

Following a complaint lodged by Anjaneylu Nidjelli, Chief Risk Officer, M/s NSPIRA Management Services Pvt. Ltd, Hyderabad, Telangana, Kuvempunagar Police have filed a First Information Report (FIR) against the three under Bharatiya Nyaya Samhita (BNS) Sections 316 (2), 318 (a), 324 (4) (5) and 3 (5), for misappropriation of funds and criminal conspiracy.

 In his complaint on Apr. 30, Nidjelli had stated that, Gururaj, having an unholy nexus with co-accused, had debited Rs. 4.7 crore from the Collection Account in ICICI Bank, Saraswathipuram branch and had transferred the same without any authorisation, on Mar. 11.

He has further alleged that, to unlawfully gain control over the funds of the institution, the accused had fraudulently altered the authorised signatory of NSPIRA in the Collection Account without any knowledge or consent. The authorised representative of NSPIRA Syed Muddassir was removed and replaced with Dechamma, in complete violation of agreement.

According to Nidjelli, NSPIRA and M/s Chaitra Educational Trust have entered into a Master Services Agreement, dated June 15, 2022, vesting special powers to NSPIRA to control and manage the institute.