(1) Any person of body of persons desirous of establishing any private educational institution may, within the prescribed period and in the manner prescribed, make an application to the prescribed authority for according recognition thereto.
(2) While according recognition under sub-section (1) to the establishment of a private educational institution the prescribed authority shall have regard to the following matter, namely:-
(a) that there is adequate financial provision as may be prescribed for its continued and efficient maintenance;
(b) that provision for suitable and adequate accommodation-staff and equipment has been made;
(c) that the institution is proposed to be located in sanitary and healthy surroundings; and
(d) such other matters as may be prescribed.
(3) Any applicant aggrieved by an order of the prescribed authority refusing to accord recognition may, in such manner and within such time as may be prescribed, refer the matter to the State Government whose decision thereon shall be final.