Pvt school official remanded to police custody till Feb 19

Kolkata: Krishna Damani, treasurer and secretary of South Point High School and a trustee of South Point Education Society (SPES), who was arrested on Thursday for misappropriation of funds has been remanded to police custody till February 19 after he was produced at the Chief Metropolitan Magistrate (CMM), Calcutta on Friday.

A case was registered against Damani at the Gariahat Police Station alleging that he along with his accomplices siphoned off at least Rs 10 crore from the school fund. The malpractice was spotted during an audit last year. After the issue was noticed, an internal probe was launched. The investigation was conducted for over a year and it was found that the money was transferred through multiple bank transactions.