The Economic Offences Wing (EOW) in Pune has launched an intensive investigation into a massive financial misappropriation scheme allegedly orchestrated by the former director of Dr. D.Y. Patil B-School. The multi-crore fraud came to light following an independent forensic audit that flagged deep-rooted financial irregularities totaling nearly ₹4.99 crore.
The Wakad Police officially registered a First Information Report (FIR) against the prime accused under the relevant provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, and the Information Technology (IT) Act. The complaint, formally lodged by the institution’s treasurer, details a sophisticated pattern of administrative manipulation that systematically drained the educational institute’s reserves over a two-year period.
Forensic Audit Uncovers Systematic Financial Manipulations
The operational cracks first became apparent to the business school’s management in August 2025, prompting the immediate appointment of the independent auditing firm, AZB & Partners, to dissect the institution’s ledger books. The comprehensive forensic report, finalized and submitted on June 12, 2026, laid bare an intricate web of unauthorized payouts and inflated operational costs. The accused, Amol Anandrao Gavande, who held immense administrative leverage as both the institutional Director and the Pro-Chancellor of Dr. D.Y. Patil Gyanprasad University, allegedly utilized his oversight of day-to-day expenditures to bypass standard checks and balances between October 2023 and November 2025.
Among the most glaring irregularities highlighted in the audit was a highly coordinated duplicate billing racket involving external admission consultants. The investigation alleges that the institution handed over more than ₹1.08 crore in excess commission payouts by mapping individual students to multiple recruitment agencies simultaneously. To make matters worse, these lucrative fees were consistently cleared and disbursed even in scenarios where the applicants eventually cancelled their admissions altogether, leaving the business school with substantial net losses.
Fabricated Salaries And Inflated Excursion Expenses
The financial hemorrhage extended deep into the institute’s payroll system, where forensic analysts discovered massive discrepancies between physical attendance logs and actual cash outflows. The audit revealed that a staggering ₹3.27 crore was disbursed through completely fabricated salary records approved directly by the leadership. Full monthly compensation packets were systematically routed to select faculty and staff members despite a total absence of corroborating biometric attendance data, indicating a structural bypass of internal HR compliance networks.
Academic excursions and visiting faculty programs were similarly weaponized to siphon institutional wealth into private pockets. The probe documents an inflated bill structure for a student freshers’ tour to Goa that caused an independent loss of ₹31.58 lakh, alongside an unjustified ₹11.69 lakh paid out as excess honorariums to visiting instructors. Most damagingly, investigators discovered that ₹42.35 lakh in questionable funds had been deposited directly into Gavande’s personal ICICI Bank account by closely related third parties during the period of the alleged fraud.
Digital Evidence Tampering And Next Legal Steps
As the internal inquiry intensified and executive scrutiny closed in, the accused allegedly shifted his strategy toward institutional sabotage and data destruction. According to the police complaint, Gavande completely formatted his official corporate laptop, wiped core operating drives, and explicitly transferred sensitive financial archives from his official email network over to a private account. This deliberate attempt to erase digital footprint traces and hoard confidential proprietary data added significant complications to the early stages of the law enforcement review.
With the preliminary FIR now active, the Pune Economic Offences Wing has assumed total jurisdiction over the collection of physical, technical, and digital evidence. Specialized financial units are currently analyzing the complete banking trails of the accused and auditing interconnected travel and admission agencies to map the entire network of beneficiaries. Law enforcement officials have confirmed that further coercive legal measures, including potential custodial interrogations, will be executed sequentially as the multi-layered financial analysis progresses.
