Disproportionate assets worth over Rs 1 crore were seized from the office and residence of the principal of a government college, by the Economic Offences Unit of the Bihar Police.
"Our teams have seized property related documents with a book value, or registered value worth Rs 1 crore. The market value of these assets would be much more," Vashista, an official said after the raid on Government Sanskrit College principal Anil Kumar Ishwar's office and his palatial residence at Beur area.
The seized immovable assets of Ishwar included two expensive properties in the National Capital Region of Delhi and over 30 bank accounts.
Investigations revealed that the principal's family spent Rs 7 lakh on flight tickets in the last couple of years.
EOU officials said that Ishwar started as a middleman for college students helping them get mark-sheets and certificates before becoming a teacher.
A large number of stamps, certificates and various types of forms of different universities and educational institutions were recovered from Ishwar's official premises.
Sources said that he had no authority to keep these seals and documents with him.
EOU officials were investigating whether he was involved in any racket pertaining to fake mark-sheets and certificates.
An FIR under the Prevention of Corruption Act, 1988 has been registered at the EOU police station against the principal.
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