India, Nov. 15 -- The Pune-based Sinhgad Technical Education Society (STES) has plunged into an acute crisis, with the Maharashtra government taking control of 32 of its educational institutions amid allegations of financial mismanagement, mounting loan liabilities, diversion of funds and prolonged salary defaults.

The crisis is seen as the culmination of years of financial distress, during which the society allegedly failed to meet its obligations towards employees and students.

The state government's Directorate of Technical Education (DTE) has appointed two administrators to oversee the institutions. Pramod Naik, joint director, technical education (Pune region), will manage 25 technical institutes, while Shailendra Deolankkar, direc...