- Here are some major checks that are required before the school is taken over:
- Statutory Norms
- Infra structure status
- Ownership status
- Financial status
Statutory Norms:
Validity of
- State Recognition Certificate
- Building Safety Certificate
- Fire Safety Certificate
- UDISE Code
- CBSE / ICSE /IGCSE Affiliation (if any)
- Society / Trust / Section – 8 Company
Infrastructure Status:
- Building Town & Country Planning Approval
- Land Diversion
- Building Permission from the Local Municipal Authority
- Labs
- Library
- Classroom and Furnishing
- Security and Safety arrangements ( CCTV Camera’s etc.)
Ownership Status:
- 1. Land and building is owned by the Society / Trust / Section – 8 Company
- Transfer can be done by inducting new members and releasing old members gradually.
- If the existing Society / Trust / Section – 8 company is having other educational institutes, then there should be a process of transfer of school from Old Society to new Society.
- This process of transfer requires the complete change of status in all the departments of education starting from District Education Office to the NOC giving authorities.
- After the state level transfer, in phase II the transfer at CBSE or ICSE can be done.
- 2. Land and building are owned by a Ltd. / Pvt. Ltd. / LLP Company
- The ownership of the company can be transferred to the new owner of the school and the same Society can continue to run the school with the induction of new members and releasing of old members.
- The ownership of the company can be transferred to the new owner of the school and If the existing Society / Trust / Section – 8 company is having other educational institutes, then there should be a process of transfer of school from Old Society to new Society.
- This process of transfer requires the complete change of status in all the departments of education starting from District Education Office to the NOC giving authorities.
- After the state level transfer, in phase II the transfer at CBSE or ICSE can be done.
- 3. Land and building are owned by an individual or more than one person
- The ownership of the company can be transferred to the new owner of the school by means of registering the sale deed. A fresh lease deed needs to be signed between the new owner and the Society. Post that the same Society can continue to run the school with the induction of new members and releasing of old members.
- The ownership of the company can be transferred to the new owner of the school by means of registering the sale deed. A fresh lease deed needs to be signed between the new owner and the Society. Post that If the existing Society / Trust / Section – 8 company is having other educational institutes, then there should be a process of transfer of school from Old Society to new Society.
- This process of transfer requires the complete change of status in all the departments of education starting from District Education Office to the NOC giving authorities.
- After the state level transfer, in phase II the transfer at CBSE or ICSE can be done.
Financial Status:
- Verify the bank loans and other external liability status.
- Verify the advances being taken or paid to various agencies.
- Verify Gross Revenue figure with the present strength and the fee being charged from the students.
- Immediate need of Expansion / Upgradation / Maintenance to be budgeted.
- Franchisee Fee / Royalty dues towards the master franchisee (if any)
- Any pending dues or claims from any of the stakeholders (like students. Teachers etc.)
- PF deposit dues.
- ITR filing details
- Banking Operations