Section 5 in The Kalakshetra Foundation Act, 1993

Title: General effect of vesting

Description: (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appointing any receiver in respect of the whole or any part of such assets and properties shall be deemed to have been withdrawn.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.

Title: Central Government to direct vesting of assets and properties in the Foundation

Description: (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.

Title: Duty of persons to deliver and to account for assets, properties, etc

Description: (1) On the vesting in the Central Government of the assets and properties of Kalakshetra, all persons in charge of the managementof 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.

Title: Establishment and incorporation of Foundation

Description: (1) With effect from such date as the Central Government may, by notification, appoint in this behalf there shall be established a Foundation to be called the Kalakshetra Foundation. (2) The Foundation shall be a body corporate by the name aforesaid, having perpetual succession and a common seal, with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall by the said name sue and be sued. (3) The office of the Foundation shall be located at Thiruvanmiyur, Madras.

Title: The objects of Foundation

Description: The objects of the Foundation shall be,-- (i) to emphasise the essential unity of all true arts; (ii) to work for the recognition of the arts as vital to the individual, national and international growth; (iii) to maintain the highest traditions of art and culture in their pristine purity and in conformity with traditions; (iv) to arrange for the training, research, study, teaching and development of art and science, music, dance-drama, fine arts, and Bharat-Natyam; and (v) to ensure that the principles of "education without fear" and "art without vulgarity" are adhered to in the activities of the Foundation and not to permit any deviation from these high ideals