Section 6 in The Kalakshetra Foundation Act, 1993
Title: 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.
Title: 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 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
(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
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
Title: Authorities of the Foundation
(1) The Foundation shall consist of the following, authorities, namely:--
(a) the Governing Board;
(b) the Academic Committee; and
(c) the Finance Committee.
(2) In the discharge of functions and exercise of powers under this Act, the authorities referred to in sub-section (1) shall be guided by the objects specified in section 9.