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Mr. Manga Satya narayana, M.A, A.M.I.S, with a capital investment of 45% of the Project cost has been authorized to look after the duties & services of Junior. College as its Secretary & Correspondent. He has offered his immovable property at Yanam as Security to Indian Bank, Yanam in connection with raising 4.5 lakhs, term loan for the Junior College with due responsibility and binding of all the four Directors namely
  • Mr. N.V.V. Nageswara rao (Nagababu)
  • Mr. Nallam Sri. Ramachandra Murthi(Ramu).
  • Mr. Manga Satya narayana
having signed by all the three Directors another deed of responsibility on Rs.100/- stamp paper in addition to the memorandum of understanding Ėcum-partnership deed reduced to writing on Rs.100/-stamp paper through the authorized and licensed document writer of Yanam.
Mr. N.V.V. Nageswara rao (Nagababu) who is already the chairman of Sri. Sai. Educational Society, Yanam and also the school namely Sri Sai Vidyanikethan has been authorized to hold the designation of CHAIRMAN (Honorary) to the Junior. College in question. As he is also officiating as Regular chairman to Nallam Residential concept School, Yanam and Nallam Educational Society, Yanam. Being a chairman for Sri Junior college, Yanam has posed some technical problems as per the Norms, rules and regulations of Education department, he is authorized to be an honorary chairman for our junior college. His share of Capital investment in the Junior College is 45% of the project cost. Mr. Manga Satyanarayana's investment grew to 45%.
Mr. Nallam Sri. Ramachandra Murthi(Ramu) is also 20% share capital holder authorized to be the Director of the Junior. College. But he is not looking after any Junior. College matters.
While total investments of all the three are about 30 lakhs apart from bank loan obtained by equity mortage of the immovable property of Sri. Manga SatyaNarayana.
In total Mr. Manga SatyaNarayana, M.A, A.M.I.S, is looking after the services, duties and matters of administration and maintenance of the Junior. College as itís secretary and Correspondent with full time, full powers, cheque powers, Banking and FDR powers etc since he has offered his house property as security to obtain bank loan for the Junior.college,additional powers and preveliges are extended to him to hold and run the Junior college.
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