Pragyan International University
Agarwal Family Office established Pragyan International University in Ranchi, Jharkhand, in 2016, and it was passed vide Act No. 11 of 2016 by the Jharkhand Legislative Assembly and is duly recognized by UGC, Government of India.
The Office had proposed a purchase of 30 Acre Land in Ranchi, and development of close to 3,00,000 Sq. Feet involving Academic and Residential wings, employment to hundreds of Faculties and Administrative staff, besides holding a Rs. 4 Crore Endowment Fund with the State Government of Jharkhand as per their norms.
The Office entered into an agreement for purchase of a 29.14 Acre plot of Land in Angara, Ranchi, in 2016-17 and started plotting the boundary on this large land tract, expecting to begin construction of its Administrative and Residential Wings by 2017 and making the University operational by 2019-20.
However, the Office learnt in late 2017, that this piece of Land was already sold by the Owner to some local parties of Ranchi, and is a case of multiple sale of the same property to several parties. The matter was informed by the Office to the Government of Jharkhand as well as legal recourse is being sought from the Hon’ble Court at Ranchi for refund of the monies paid by the Office thereto.