HC employees funds misused

HYDERABAD: The AP High Court Employees Mutually- Aided Cooperative Housing Society said in a press release on Tuesday that the board of directors concerned would incur disqualification as the general body meeting held on September 4, 2011 was not in accordance with the society’s bye-laws and the audited annual accounts were not placed before the general body.Though the layout was not approved by the Greater Hyderabad Municipal Corporation, society member P Venkat Reddy had indulged in misuse of society funds and spent huge amounts of about Rs 1.6 crore on land development by laying roads as per his convenience.