The AP Goyal University near Shimla, which was recently in controversy for involvement in a fake degree scam, will be auctioned after its promoters failed to repay bank loans amounting to crores. Government-owned Canara Bank will be opening bids on July 31 for online auctioning of the university building and the land of the University trust surrounding the campus. The bank has also appointed an authorised officer who has issued a notice and advertisement regarding the auction.

According to the notice, the bank will auction hectares of university land surrounding the campus located along Mehli-Shoghi bypass road. The bank has kept Rs 128 crore as the reserve amount while the deposit amount has been fixed at Rs 12.5 crore. The details have been mentioned in the notice issued by the Chandigarh-based authorised officer of Canara Bank.

Earlier, the bank had given 60 days of time to the members of AP Goyal Charitable Trust to clear the dues, however, the…

Read more…