Pune: The Abhinav Education Society's College of Engineering and Technology at Wadwadi, near Bhatghar Dam, was sealed on January 6 evening by Bank of Baroda. The action was taken following a judicial order due to an unpaid loan of ₹32.03 crore. The bank has taken possession of the 14.67-hectare property, including college buildings, hostels, and other assets.
Approximately 800 hostel residents were asked to vacate the premises as the bank sealed the property. The closure has left 1,100 diploma students, 550 degree students, and 250 students from the affiliated English-medium school in a state of uncertainty regarding their education.
The college was established in 2009 and has catered to students from rural areas across Maharashtra. Its assets, including buildings and equipment, are valued at ₹100 crore, while the entire Wadwadi campus holds an estimated value of ₹132 crore.
The sudden sealing has raised concerns about upcoming engineering exams scheduled for January 17. Many students expressed distress over the situation, with some seen leaving the hostel in tears.
Bank officials had attempted to seize the property two months ago but were met with protests from students, who delayed the action. This time, the seizure occurred after classes ended, and the bank deployed 24-hour security guards to secure the premises.
Rajiv Jagtap, President of Abhinav Education Society, stated, “We are in discussions with the bank to ensure the college reopens soon to prevent academic losses. Online education will commence as an interim measure, and we are making every effort to resume offline classes before the January 17 exams."
