Serious concerns have been raised by the Then India Sanmarga Ikya Sangam Nasinu Branch Executive Members as the Nasinu Sangam Primary School has been mortgaged for around $2 million.
While speaking at the AGM today, re-elected President Yogeshwar Krishna says in 2017 a building project was proposed and approved and a loan was taken from a bank.
Krishna says funds up to $1.2 million were released by the bank after mortgaging of the school however the project is incomplete.
Krishna further says $200,000 was also used from the Sangam Institute of Technology for this purpose.
He has confirmed many were shocked to know the school has been mortgaged and they will need to pay around $18,000 a month to clear the mortgage and the school currently does not have that kind of money.
Krishna says their only source of income is the school canteen and they get some money from the hiring of the hall.
He says soon they will have the executive meeting and will refer this to the National Committee but it is their responsibility and they do not want to get blamed for this.
Krishna says they have done a independent review.
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