Panel to probe Rs 47 crore varsity fund diversion in University of Madras

Chennai: The syndicate of University of Madras has formed a four-member committee to inquire into Rs 46.5 crore funds’ diversion in the university during 2016-17.

The Governor’s nominee to the Syndicate Vishal Kumar, Professor Jothi Sivagnanam, the registrar (in charge) Professor Karunanidhi and the joint secretary of higher education will be part of the committee.

The committee will probe the diversion of Rs 46.5 crore and inquire into for what purposes the funds were diverted, whether the transfer was reasonable and done according to the statutes of the university. Usually, around Rs 10 crore to Rs 12 crore is diverted to give the salary to the staff. But, the huge amount of funds’ diversion this year has prompted an inquiry.

“The entire funds diversion was not in question as it involved the salary components. The controversial transfer was the amount paid to the builders,” a syndicate member said.

“The builders were reportedly paid '9 crore during 2016-17. When the builders’ claim of additional payment was under the dispute, the payment was made without any sound financial advice,” they claimed.

University sources indicated that if the committee finds evidence for any illegal fund diversion, the issue will be referred to the vigilance for further action. Meanwhile, some professors blamed it on the state government for not providing the grants on time.

“The university is literally in a financial crisis necessitating the funds’ diversion. The state government is giving only one-fifth of the total budget of the university as grants. Even the salary grant is not given on time,” they said. “The university recently received salary grant meant for the year 2013-14. For years 2014-15, 2015-16, 2016-17 grant is still pending,” they added.

The audit report of 2015-16 also has raised many objections to the funds’ diversion in the university.