Abohar, July 7: Bank officials on Friday sealed Homoeopathic Medical College. The officials, accompanied by police personnel, asked the students and staff to vacate the hostel. As many as 45 hostellers from Manipur and Gujarat sought time from the officials, but their request was turned down.
Sources said the management had taken a loan of Rs 6.5 crore from Punjab and Sind Bank to run the Radiant College of Engineering in the same complex.
As it could not pay instalments regularly, the interest rose to Rs 8.8 crore. The institute was finally shut down last year. The management had blamed the state and Central governments for not releasing funds (approximately Rs 1.5 crore) meant for scholarships for SC/ST students. The college is affiliated to Guru Ravidas Ayurved University, Hoshiarpur.
It got recognition from the Council of Homoeopathic System of Medicines, Punjab, in 1975. The institute was initially run by the Lions Club and was later taken over by the Seth Badri Nath Khanna Charitable Trust in 1987.
Source Tribune India
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