Keshav Reddy's assets to be attached

Hyderabad: The Andhra Pradesh Home Ministry on Wednesday issued orders to attach the properties of Keshav Reddy school management. It directed the CID to attach property worth 24.50 crore.

Allegations were reported against the owner Nagireddy Keshav Reddy for soliciting deposits from the parents of the school students with a promise of higher returns on their 'investments'. The home ministry had ordered the attachment of assets in this context.

A resident of Balajinagar in Nandhyal town, Nagireddy had established schools in Andhra and Telangana. He had solicited deposits from students' parents and businesses to fund these schools by promising them higher returns. The police had arrested him after they examined these allegations.