Section 60 in Grant-in-Aid Code of the Tamil Nadu Educational Department
60. Claims of the Government.
- If an institution which has received aid under this Chapter has, within five years from the date on which a grant under this chapter is drawn, been closed or diverted to other than educational purposes approved by the Government, the Government shall be at liberty to purchase the articles, towards the supply of which the grant was given, at a valuation to be made by an officer to be deputed by the Government for the purpose.When the Government purchase the articles at the valuation so fixed, the amount to be paid to the management shall be only the excess of the valuation over the amount already given as grant towards their original purchase.Alternatively, the Government may direct that the articles shall be sold in auction, in which case the proceeds shall be paid into the Government treasury provided that if the proceeds exceed the amount of grant already paid towards the purchase of the articles, the difference shall be payable to the management of the school.
