Alumnus bequeaths property worth over Rs 18.60 cr to varsity

In a noble gesture,an alumnus of the University of Madras has bequeathed half of his property to the alma mater.

Rajasekaran Sham was a practising radiologist who died in the US in 2008 aged 68. He has donated over Rs 18.60 crore to the university,the last of the installments of which was received by Vice-Chancellor G Thiruvasagam on Thursday.

Sham and his wife Lucila,who had predeceased him,had written a will donating their property equally to the university and an organisation in the US,Thiruvasagam said.

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“We managed to get a tax waiver to the tune of over Rs nine crore (half of the amount donated) from the US Government as they were entitled to levy the Estate Tax. We submitted due documents to prove that we are a non-profit organisation following which we received the entire amount,” he said.

Chennai-based Universal Legal coordinated with a US law firm to ensure tax waiver,company Senior Associate Sameena Chatrapathy said.

“The amount would be spent on building hostels and an indoor stadium at two different campuses of the university in the city and these will be named after Dr Sham,” Thiruvasagam said,adding that the facilities would accommodate about 1,400 students.

On details about Sham’s association with the university,he said no records were available and he must have studied in the university when it offered medicine courses in the 60s.