Section 35 in The Maharashtra State Board of Technical Education Act, 1997
35. Closure of institution.
(1)No management of an institution shall be allowed to close down the institution without prior permission of the Government.(2)The management desirous of closing the institution shall apply to the Board on or before the [last day of April of the preceding year] [These words were substituted for the words 'First day of August of the preceding year' by Maharashtra 30 of 2006, Section 2(a) (w.e.f. 9-1-2006).] stating fully the grounds for closure, and pointing out the assets in the forms of building and equipments, their original cost, the prevailing market value and the grants so for received by it from the Government or from public funding agencies.(3)On receipt of such an application, the Board shalt cause to make enquiries as it may deem fit, to assess and determine whether the institution be permitted to effect the closure. The Board may, examine whether the closure should be avoided by providing necessary assistance or taking over of the Institute by the Government or transferring it to another management.(4)If the Board decides to recommend the closure, it shall prepare and submit to the Government, a report on the extent of damages or compensation to be recovered from the management and whether the assets created utilizing the funds provided by the Government or other public funding agencies be transferred to the Government or other management, and the payment of compensation to the teachers and the staff retrenched.(5)[ If the Board has recommended the closure of the affiliated Institution the Government may issue the order for closure.] [[Sub-section (5) was substituted by Maharashtra 3 of 2006, Section 2(b) (w.e.f. 9-1-2006).Substituted sub-section reads as follows:
