Section 60(2) in The Karnataka Education Act, 1983
(2)The State Government may, by order in writing permit the transfer of any such land or building, subject to such conditions as it may impose, if,-(a)the transfer is made in furtherance of the purposes of the educational institutions or of ancillary purposes approved by the State Government and the proceeds of such transfer are to be wholly utilised in furtherance of the said purposes;(b)the transfer is made only in part in furtherance of the purposes aforesaid, provided repayment is made to the State Government of such portion as the State government may direct in the circumstances of the case, of the grant referred to in clause (a) of sub-section (1) or of the current market value of the land or building referred to in clause (b) of sub-section (1) or of both, as the case may be;(c)the transfer is made for any other valid reason provided repayment is made to the State Government in full of the grant referred to in clause (a) of sub-section (1) or of the current market value of the land or building referred to in clause (b) of sub-section (1) or of both, as the case may be.
