Restriction of alienation of Property

(1) Notwithstanding anything contained in any other law for the time being in force, no sale, mortgage, lease, pledge, gift, charge or transfer of possession in respect of property of a private or special institution shall be made or created without the previous permission in writing of the Director of Education on the application made in this behalf. (2) The Director, on receipt of such application for permission, shall pass orders within three months and give reasons in case of rejection of the permission. (3) Any sale, mortgage, lease, pledge, gift, charge or transfer of possession in respect of property so made in contravention of the provision of this section shall be null and void.