Saraswati also faces several multi-crore fraud allegations

The Peetham, which owns the institute, has filed two complaints against Saraswati—one for molesting over 17 female students and another for defrauding the organisation of crores of rupees.

Besides a slew of sexual harassment charges by students, former chairman Swami Chaitanyananda Saraswati of the Shri Sharada Institute of Indian Management also faces another set of serious allegations from his former employer, Sri Sringeri Sharada Peetham. The organisation has accused the monk of changing the college’s name, creating a trust worth ₹122 crore, vesting plots in the trust, appointing key members, colluding with them to divest immovable assets, diverting funds through fake lease deeds, and soliciting money for fake degrees.

Swami Chaitanyananda Saraswati

The Peetham, which owns the institute, has filed two complaints against Saraswati—one for molesting over 17 female students and another for defrauding the organisation of crores of rupees. HT accessed the FIR on Thursday, which stems from a complaint submitted by the Peetham on July 23, running over 300 pages.

According to the FIR, around 2008-09, Saraswati allegedly misrepresented the college’s name and altered it in fraudulent trust deeds and other documents he created. While the institution was designated as a research centre, Saraswati and his associates created a trust without approval from the Peetham’s presiding pontiff and also obtained a power of attorney in his name. “He is desirous of creating and establishing a trust in respect of the sum of ₹1,22,67,65,094… along with land and buildings as dedicated by the Ruling Pontiff,” the FIR notes.

The organisation said it only discovered the fraud, which has been going on since 2008, this year.

Further probes revealed that Saraswati executed another fraudulent trust deed on October 16, 2024, amending clauses of the earlier 2010 deed and reconstituting the board of trustees without the pontiff’s approval. Audits also found that he showed fake lease deeds related to office spaces and projects, allegedly cheating the organisation of ₹40 lakh per month.

The organisation alleged that Saraswati vested properties in the trust, attempted to usurp control of the institution, and breached trust by trying to seize the college’s assets. The FIR adds, “The accused, in conspiracy, diverted revenues and funds for their own benefit and have criminally misappropriated the property and funds.”

DCP (southwest) Amit Goel said Saraswati has been booked for cheating, forgery, impersonation, criminal conspiracy, and related offences.