I Mortgaged My House To Pay Salaries At College – Babu

Actor, educationalist, politician, philanthropist Mohan Babu, who wears many hats, is plain spoken. The veteran actor nonchalantly admitted that he has mortgaged his house and other properties worth Rs 25 Crore with Andhra Bank and used those money to pay salaries at the educational institutions he is running at Tirupati through a trust.

Stating that he is not running the educational institutions to make profit, Mohan Babu said that he is not allowed to take a single paisa earned through the educational institutions as they are run by the trust.

To bring in transparency in the institutions and the trust, the actor said that the institution’s income is audited thoroughly by private auditors. He said he has mortgaged his properties for the successful run of his educational group of institutions and the employees dependent on it.

Talking about the fee reimbursements which he had raised against the previous TDP government and blamed ex CM Chandrababu for not releasing the fee reimbursements to colleges, Mohan Babu admitted that even Jagan’s government hasn’t released the fee reimbursements of colleges yet. However, Mohan Babu said that Jagan has given his word that it would be done.

He said that there was no proper response either during Chandrababu’s tenure. Mohan Babu said that his son Vishnu Manchu, who is the CEO of the educational institutions, has brought up the matter with CM Jagan. Babu said that he hasn’t talked to Jagan directly about the issue.

Now, these words of Mohan Babu on fee reimbursements are being targeted by TDP leaders over his soft stand on Jagan. On the whole, Mohan Babu’s fresh interview on various topics is likely to hit headlines.