CID to probe fund diversion in skill development corp.
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The AP State Skill Development Corporation has directed the Crime Investigation Department to probe into the alleged diversion of funds of ₹241.78 crore by Designtech and Siemens Projects by means of varied shell corporations.
A forensic audit report of the APSSDC has concluded that the cash was diverted from the APSSDC by means of shell corporations. The report additionally mentioned that the 2 corporations had utilised solely the federal government contribution of ₹270.78 crore and didn’t make investments their cash, which was opposite to the unique scheme proposed by the then authorities.
It has additionally been introduced to the discover that the community of corporations have ‘siphoned off’ funds from the APSSDC by means of a bogus invoicing scheme pertaining to the Siemens venture, beneath which, six centres of excellence have been supposed to be arrange to present skill development and hands-on coaching to engineering college students.
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