The former director of Canara Bank School of Management Studies has been booked for cheating and criminal breach of trust for alleged financial irregularities during his tenure.
Based on a complaint filed by Dr. M Kotresh, registrar, Bangalore University, the Jnanabharathi police registered an FIR against Dr. K Janardhanam on July 13.
In his complaint, Dr. Kotresh said that Janardhanam was the director of management studies from January 2014 to December 2019. During his tenure, he had collected ₹23.3 lakh as fees for the MBA (day and night) course and allegedly siphoned off the money.
The university sought a clarification and even issued a show cause notice to him, for which Janardhanam brought an interim stay order from the High Court of Karnataka for a period of four weeks.
After the stay was vacated, the university initiated action to recover the money and deducted the retirement benefits to recover dues amounting to ₹13.5 lakh from him through an order issued on July 6, 2022.
Further inquires revealed that Janardhanam had collected a total sum of ₹2.2 crore from 3,800 students between 2016 to 2018 towards fees for the SAP course and diverted the money to a private company located in the southern part of Bengaluru, police said.
