Various stories are emerging about a prominent head of well-known educational institutions, who was inducted into the Andhra Pradesh government some time back.
According to a story that appeared in a magazine, the said head of educational institutions is likely to declare bankruptcy to the tune of Rs 750 crore.
However, as per the stories in a particular newspaper, he is likely to declare bankruptcy for Rs 1000 crore. Incidentally, the institute has various branches all over Telangana and Andhra Pradesh.
The said personality had collected deposits from the parents of students who study at their institutes along with taking huge loans from various people in Prodduturu.
Now, with loans piling up, he is unable to return the deposits and loans. So, he has decided to apply for IP it is being rumoured.
Now, many are wondering as to how he was inducted into the ruling party without making enquiries about his background.
Since he is quite close to many politicians especially from the ruling party, it remains to be seen how the government will react to the issue of bankruptcy.
