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AP Government decided to file a defamation suit against the State Bank of Hyderabad

Jan 31, 2015 15:00 IST

State Government of Andhra Pradesh on 30 January 2015 decided to file a defamation suit against the State Bank of Hyderabad (SBH). The decision was taken after the account of Andhra Pradesh State Council of Higher Education (APSCHE) amounting to 25 crore rupees was freezed by the SBH.


The accounts of APSCHE were frozen after Telangana State Council of Higher Education (TSCHE) sent a letter to various banks asking them to freeze the accounts of APSCHE.

TSCHE asked the banks to freeze the accounts as it accused APSCHE of illegally siphoning off the money that was to be shared between the two states. TSCHE also alleged that APSCHE is purposely delaying the bifurcation of assets of the council.

At present, the APSCHE has deposits and cash worth 120 crore rupees in Andhra Bank, Canara Bank, State Bank of India and State Bank of Hyderabad.

 

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