Setback to Telangana: SC Refuses to Review Order on Sharing of APSCHE Assets

Hyderabad: The Supreme Court on Thursday refused to review it’s March 2016 order, which stated that the assets of Andhra Pradesh State Council for Higher Education (APSCHE) be shared on a 58:42 basis between Telangana and Andhra Pradesh.

The state had estimated that it needs to pay around Rs 25,000 crore to AP, if it wants to stake claim over these assets. However, the AP government had assessed the share at Rs 70,000 crore.

The Court stated that Telangana state was not entitled to the entire assets and deposits of APSCHE. The state had estimated that it needs to pay around Rs 25,000 crore to AP, if it wants to stake claim over these assets. However, the AP government had assessed the share at Rs 70,000 crore.
Irrespective of the amount, if both the governments do not agree on the 58:42 sharing basis then the Centre would constitute a committee to arrive an agreement in two months, the Court stated.

It also added that Telangana cannot lay claim to the entire APSCHE assets just because the assets lay in Hyderabad region. The Supreme Court also pulled-up the action of the banks to freeze the accounts of APSCHE stating the move is not tenable by law.