ICFAI –INSTITUTE OF FRAUD

The above Institute, without valid approvals from the appropriate authorities, which is the basic requirement to start any college, has admitted more than 300 students by collecting huge donations and fees. This Hyderabad head quartered Institute’s fraud is as serious as that of Satyam. The students’ of the Institute expressed their ire by destroying some of the properties of the Institute. The police instead of arresting the students should have arrested the director who has illegally collected crores of rupees from the gullible students and putting their future at great risk. A high level CBI enquiry is required into the entire episode and the culprits should be brought to books at the earliest. In the meanwhile the Government should rehabilitate the affected students by shifting them to other colleges with minimum expenditure since the students have already spent a fortune earlier. Stringent action should be taken against all those involved in this fraud.