Complaint Review: Sri Nidamanuri Educational Society - ONGOLE Internet

QIS Group and Surapaneni Foundation which Founded QIS Group of Colleges and institutions in Ongole have filed a Rip Off Case against Nidamanuri Nageswara Rao and Chenchu Lakshmi for stealing funds from QIS Group of Colleges and against Surya Kalyan Nidamanuri for Fradulently changing the 50 percent Ownership details of Educational society(SNES).

Citing Lack of Funds to repay Debt owed to QIS Group by Nidamanuri Nageswara rao and Surya Kalyan Chakravarthy Nidamanuri - the SNES Management has been siphoning Payments owed to the Founders. This Rip off case is being filed to notify all that have given loans to Nidamanuri Nageswara Rao who misused QIS assets.

The QIS Board met on May 8th and has unanimously approved removal of current Management at Sri Nidamanuri Educational Society(SNES) and sought to replace Mr. Nidamanuri Nageswara Rao immediately as he has been responsible for causing serious losses to the Organization and Group of companies. He has failed to pay on numerous loans and payments owed to the QIS founders and Surapaneni Foundation that have been taken with using guarantees on their properties.

SNES management has resulted in Mismanagment and illegal routing of funds are in no position to even pay 50 percent of the yearly payouts, resulting in numerous litigations and cases. In the interim, SNES management is scrambling to get the basic funds arranged for running the educational institutions.

There have been numerous instances of money being siphoned off from the colleges and institutions by Nidamanuris that has been notified to the Board. This news came to light when the assets of Nidamanuri Nageswara Rao who was a retired government staff worker in 2004, all of sudden catapulted to Secretary& Correspondent level without any knowlege and investment.

Numerous Loans where taken illegally by Mr. Nageswara Rao and Surya Kalyan Chakravarthy Nidamanuri without Board approval putting the whole organizations in Jeopardy, This is a Classic case of unethical practices by Nidamanuris that is being highlighted with this case.

Nidamanuri family was renting a one bed room a decade ago and some how convinced the QIS Founders to help with Funding the institutions. Surya Kalyan Chakravarthy Nidamanuri Claimed that he will commit suicide in 1998, which made QIS Group comprised of his own sisters and brother-in-law to immediately send funds to setup the institutons and give him a job. Unfortunately, Greed caught up to him after his father joined SNES resulting in this theft going to high gear.

The Sequence of events with details of How the Theft by Nidamanuris started has been identified in the following schedule:

1997: Surya Kalyan Chakravarthy Nidamanuri after failing in business is on the verge of committing suicide. He has resulted in loss to numerous investments made and makes desperate Plea to QIS founders that he needs a base and a job.

1998:Surya Kalyan Chakravarthy Nidamanuri gets Funding of $200K from QIS Founders and Owners to setup Institutions in Ongole. He is also given a Job and  50percent part ownership for managing it and helping him set a base.Computers and other Donations belonging to QIS Group donated to setup state of the art compuer labs and library .

1999: As it is a Family Supported Entity, Trust is placed on SNES management to run the institutions with the 50 percent share to be given to them for managing the institutions. SNES supposed to invest the initial years of funds back in the Organizations growth. QIS Group unaware of funds being siphoned by Surya Kalyan Chakravarthy Nidamanuri and Nidamanuri Nageswara Rao

2000: Secretary role given to Surya Kalyan Chakravarthy Nidamanuri with Group Founders retaining Chairman role and some member positions. QIS Group Chairman and Members visit to inaugurate and setup the Colleges along with finalizaing the members list.

2002: Members like Malakondiah and Prasad inducted into roles to manage trusting them with the responsibility (No one assumed at that time that Family members would commit theft to this extent) Agreement to share 50 percent of the Management Quota Seats and Assets between SNES and QIS Group was made. QIS Founders agree to 50 percent share of Mgmt Quota fee of 10 lakhs per year to start. Mgmt to change after 10 years.

2003: Mr. Nageswara Rao and Chenchu Lakhmi who were given access to 58 Acres and Hyderabad properties owned by QIS Founders started misusing the funds from this land and Hyderabad properties to further their own personal assets instead of QIS colleges and institutions.  

2004: Nageswara Rao Nidamanuri seeks job after retirement and is given the job as Correspondent. Nageswara Rao who has been a Government staff worker in irrigation department.

2005: Father and Son Duo, Nageswara Rao Nidamanuri and Surya Kalyan Chakravarthy Nidamanuri (alias Chikku) plot to Change Member lists of the trust to claim Chairman role illegally without informing any one in QISgroup. Nageswara Rao Nidamanuri and Surya Kalyan Chakravarthy start siphoning of funds belonging to QIS Colleges and institutions for Personal Gains.

2006: Nageswara Rao Nidamanuri takes charge and runs the theft operations in to high gear. Nageswara Rao Nidamanuri steals 58 acres of Land and House in Hyderabad owned by QIS Founders and his own daughters, He and his wife Chenchu Lakshmi plot to even siphon off the yearly proceeds and rentals from these properties for personal use.

2007: Nageswara Rao Nidamanuri and Surya Kalyan Chakravarthy take illegal loans on properties not belonging to SNES by Forging documents. Payments for the 50 percent share of Management seats and Assets owed to the Surapaneni's was illegally stopped and Funds routed to Nidamanuri Nageswara Rao and Chechu Lakshmi.

2008: Nageswara Rao Nidamanuri and Chenchu Lakshmi identified as involved in stealing Proceeds from 58 acres land and Hyderabad Property Rentals from the properties owned by QIS Group. QIS Hostel Material and food used for Personal use by Nidamanuri's is identified. QIS Board reprimands Nageswara Rao Nidamanuri and Chenchu Lakshmi to not do it in the future.

Also, QIS Board notified SNES to stop Gouging on 58 acres of Land and Assets owed by QIS Group illegally.

2009: QIS Group seeks remediation through sales of college assets to pay off for the Debt owed to founders. Accusations surrounding Food and Material belonging to the QIS College Hostels being illegally routed to Nidamanuri Households is being investigated. Rampant theft and Cut throat behavior by the SNES directors Nageswara Rao Nidamanuri and Surya Kalyan Chakravarthy who have changed the trust member lists forging the documents & replacing the Founders names with their own comes to light.

2010: Formal Case lodged and Rip off Release initiated. Buyer is sought now for QIS group of institutions to raise funds needed to run the organizations properly and pay off the Loans owed to Founders.

Board Resolution passed with Recommendation to oust Nageswara Rao Nidamanuri if the Payments owed to the Institutions are not made before June 14th, 2010.

This is a Bizzare case of theft by the Nidamanuri Father & Son Duo that has taken the whole Prakasam District by surprise for their ruthless stealing from the hands that fed them and funded the institutions, entrusting them with the responsibility to run the colleges. More details are to come out regards to this theft by Nidamanuri rogues after the June 14th referendum. http://www.QISgroup.in