Kerala Agricultural University | Photo: Mathrubhumi
Thrissur: Kerala Agricultural University has revoked its decision to borrow Rs 40 crore by mortgaging land as reported earlier this week. The decision was made following a discussion between the Agriculture Minister and Pro Chancellor of KAU P. Prasad and the Vice Chancellor B Ashok Kumar.
The resolution to pledge the land to procure funds for clearing debts and starting new courses was made by the governing body in a meeting held on August 19. The university issued an order regarding this on September 14.
Along with the mortgage, the governing body had also taken the decision to take a significant amount as refundable security deposits from NRI- international students.
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