Amendment status not verified — confirm the current text below against the official source.
Governing Council to hand over properties, records, etc., to competent authority on closure, etc., of private educational institution:- (1) In the event of the private educational institution being closed down or discontinued or its recognition being withdrawn the Governing Council shall hand over or cause to be handed over to the competent authority the custody of all the properties, records and accounts of the institution in his possession. (2) (a) Where the competent authority is resisted in or prevented from obtaining the custody of properties, records or account of the institution by such management, any Judicial Magistrate of the first class having jurisdiction shall, on an application made by the competent authority, by order, after notice to the Governing Council, direct the handing over of the custody of such properties, records or accounts of the institution to the competent authority within the time specified in such order ; 542 (b) Where the Governing Council fails to hand over the custody of the properties, records or accounts within the time specified in the order of the Magistrate under clause (a), it shall be punished with imprisonment which may extend to six months or with fine which may extend to five thousand rupees or with both, and the Magistrate shall cause the custody of the properties, records or accounts to be handed over to the competent authority taking such police assistance as may be necessary. (3) Nothing in this section shall apply to a private educational institution under management of a charitable or religious institution, charitable or religious endowment or wakf. I 04. Restriction on alienation of property of private educational institution:-(]) Notwithstanding anything in any law for the time being in force. no sale, mortgage, lease, pledge, charge or transfer of possession in respect of any property of a private educational institution shall be made or created except with the previous permission in writing of the competent authority on an application made in this behalf. (2) (a) No permission applied for under sub-section (1) shall be refused by the competent authority except where the grant of such permission will in its opinion, adversely affect the working of the institution : (b) The competent authority shall pass an order either granting or refusing permission applied for, within a period of sixty days from the date of receipt of the application. (3) Any person aggrieved by an order refusing permission under sub- section (2) may, in such manner and within such time, as may be prescribed, appeal to the prescribed authority. ( 4) Any transaction made in contravention of sub-section (1) shall be null and void.