4. Transfer to, and vesting in, the Central Government of the assets and properties of
Kalakshetra.—On the commencement of this Act, the right, title and interest in relation to the assets and
properties of Kalakshetra specified in the Second Schedule and vested in the Board of Trustees or any
other body, in whatever capacity, shall Stand transferred to, and vest in, the Central Government.
5. General effect of vesting.—(1) The right, title and interest vested in the Central Government under
section 4 shall be deemed to include all the assets, rights, leaseholds, powers, authorities, licences and
privileges; all property (movable and immovable) including lands and buildings; musical instruments;
equipments used in teaching, training and staging of performing arts; tools and facilities used in arts and
crafts; costumes and decorative items; books; stationery, furniture and other equipments used in libraries
and laboratories; works of art and artefacts; stores, automobiles and other vehicles; workshops;
cash balances, funds including reserve funds, investments and all other rights and interests arising out of
such assets and properties as were immediately before the commencement of this Act in the possession
ownership, power or control of the Board of Trustees or any other body, in whatever capacity, and all
books of account, registers, maps, plans and all other documents of whatever nature relating thereto.
(2) All assets and properties as aforesaid which have vested in the Central Government under section 4
shall, by force of such vesting, be freed and discharged from any trust, obligation, mortgage, charge, lien
and all other encumbrances affecting them or of any attachment, injunction, decree or order of any court or
other authority restricting the use of such assets or properties in any manner, or appointing any receiver in
respect of the whole or any part of such assets and properties shall be deemed to have been withdrawn.
(3) Any licence, permission, authority, concession, facility, privilege, affiliation or any other
instrument of similar nature granted to the Board of Trustees or any other body, in whatever capacity, in
relation to the assets and properties of Kalakshetra or any of its constituent units which has vested in the
Central Government under section 4, at any time before the commencement of this Act and in force
immediately before such commencement, shall continue to be in force on and after such commencement in
accordance with its tenor in relation to, and for purposes of, such assets and properties, or where the
direction under section 6 has been issued, the Foundation shall be deemed to be substituted in such
licence, permission, authority, concession, facility, privilege affiliation or other instrument, as if it had
been granted to the Foundation and the Foundation shall hold it for the remainder of the period for which
the Board of Trustees or any other body, in whatever capacity, would have held it under the terms thereof.
(4) If, on the commencement of this Act, any suit, appeal or other proceeding of whatever nature in
relation to any assets or properties which have vested in the Central Government under section 4,
instituted or preferred by the Board of Trustees is pending, the same shall not abate, be discontinued or
be, in any way, prejudicially affected by reason of such transfer and vesting, or of anything contained in
this Act, but the suit, appeal or other proceeding may be continued, prosecuted or enforced, by the Central
Government or where the right, title and interest in relation to such assets and properties are directed
under section 6 to vest in the Foundation, by the Foundation.
6. Central Government to direct vesting of assets and properties in the
Foundation.—(1) Notwithstanding anything contained in sections 4 and 5, the Central Government shall
direct, by notification, that the right, title and interest in relation to the assets and properties of
Kalakshetra, which had vested in it under section 4, shall vest in the Foundation on such date, not being a
date earlier than the date of commencement of this Act, as may be specified in the notification.
(2) On and from the date of vesting of the right, title and interest in relation to the assets, and
properties of Kalakshetra in the Foundation under sub-section (1),—
(a) the Foundation shall be deemed to have become the owner of the assets and properties; and
(b) the rights and liabilities of the Central Government, in relation to such assets and properties
shall be deemed to have become the rights and liabilities respectively of the Foundation.
7. Duty of persons to deliver and to account for assets, properties, etc.—(1) On the vesting in the
Central Government of the assets and properties of Kalakshetra, all persons in charge of the management
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of the said assets and properties immediately before the date of such vesting, shall be bound to deliver to
the Central Government or to the Foundation or to such person or body of persons as the Central
Government or the Foundation may specify in this behalf, all assets, properties, books of account, registers
or other, documents in their custody relating to the assets and properties of Kalakshetra.
(2) Every person who has, in his possession or control any assets, properties, books, documents or
other papers relating to Kalakshetra which have vested in the Central Government or the Foundation under
this Act, and which belong to, Kalakshetra or would have so belonged if Kalakshetra had not vested in the
Central Government or the Foundation, shall be liable to account for the said assets, properties, books,
documents and other papers to the Central Government or the Foundation, as the case may be, and shall
deliver them up to the Central Government or the Foundation or to such person or body of persons as the
Central Government or the Foundation may specify in this behalf.
(3) The Central Government shall take or cause to be taken all necessary steps for securing possession
of assets and properties of Kalakshetra which have vested in it under section 4.