Amendment status not verified — confirm the current text below against the official source.
(1) The State Government may, on the application made by the Administrator in this behalf, advance moneys for the purpose of efficiently managing the Bangabasi Group of Colleges and all such moneys shall be repayable with such interest as may be prescribed by rules. (2) Any money advanced under sub-section (1) shall, subject to the prior payment of municipal rates and any sum due to Government on account of taxes or fees, be a first charge upon the properties of the Bangabasi Group of Colleges.