The Supreme Court judgement over the sharing of assets of education department and the state council of higher education between the state of Andhra Pradesh and Telangana has made AP CM Chandrababu Naidu really elated. Now the TDP government will claim its share in all the institutions listed under Schedules IX and X of the AP Reorganisation Act, 2014.
This claim is expected to fetch AP government assets worth more than Rs 70,000 crore from more than 120 institutions listed in the Schedule IX and X which were all taken over by the Telangana government. The Supreme Court had supported claims of AP for even bank balance of the higher education council, that has crores of rupees.
The apex court ordered that all the money should be shared between the two newly formed states in the ratio of 58:42. There is also nearly Rs 3800 crore in the form of fixed deposits for the 120 institutions. Hence AP government will gain more than Rs 70,000 crore through bank deposits and immovable assets.
This is considered as the single biggest achievement of the TDP government with regards to the apportionment of assets and liabilities of the united AP. Telangana government took over all the institutions located in Hyderabad city on the basis of Section 75 which supported the geographical location of the assets for its ownership.
