By Sara D Benedicta Josna

Bengaluru:  Former director of Canara Bank School of Management, Dr. K Janardhanam is accused of siphoning off nearly 2.5 crore during his tenure at the institution and is booked for cheating and criminal breach of trust for alleged financial irregularities during his tenure.

According to the complaint filed by Dr. M Kotresh, registrar of the Bangalore University, the police filed an FIR against Dr. K Janardhanam on July 13. The complaint stated that Dr. K Janardhanam was the former director of management studies from January 2014 to December2019. During his tenure he had collected a sum of 23.3 lakh as fees for the MBA (day and night) course and had allegedly siphoned off the money.

The University tried clarifying and 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 order was lifted, the university initiated an action to recover the money and deducted the retirement benefits to cover the dues that summed up to 13.5 lakhs from him through an order issued in July 2022.

Investigations revealed that Janardhanam had collected nearly 2.2 crore from 3,800 students between 2016 to 2018 towards fees for the SAP course and the money was transferred to a private company located in the southern part of Bengaluru, police said.

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