The CBI investigation revealed that nearly 150 colleges submitted fake FDRs amounting to `200 crore.
The All India Council for Technical Education has issued show cause notices to 160 engineering colleges in the state for submitting fake fixed deposit receipts (FDRs) and for failing to comply with several rules on faculty and infrastructure. AICTE grants approval for new colleges provided the colleges have fulfilled all the conditions.
This follows the recommendation of the Central Bureau of Investigation, which has inspected hundreds of colleges in the state since August last year.
The CBI investigation revealed that nearly 150 colleges in the state submitted fake FDRs amounting Rs 200 crore. The investigation countrywide unearthed a fraud of Rs 450 crore.
The FD required to start a new college was Rs 35 lakh, later increased to Rs 50 lakh. The FD required to Jan. 25: The FD required to start a new engineering college was `35 lakh, later it was increased to `50 lakh.
While some colleges submitted fake FD receipts, others withdrew the money from the bank without the AICTE
