60-C. (1) The Deputy Director may at any time, for the purposes of this Chapter, inspect or cause to be inspected any college or call of such information and records (including registers, books of account and vouchers) from its management with regard to the payment of salaries to its teachers or employee or give to its management any direction for the observance of such canons of financial prosperity (including any direction for retrenchment of any teacher or employee or for prohibition of any wasteful expenditure) as he thinks fit.
(2) Every direction for retrenchment under sub-section (1) shall be issued after obtaining the prior approval of the Director of Education (Higher Education) and shall specify a future date on which such retrenchment shall become operative.
(3) Where any direction for retrenchment is issued in accordance with sub-sections (1) and (2), the teacher or the employee concerned shall, with effect from the date specified in such direction, cease to be a teacher or employee of the college for the purposes of the maintenance grant payable under this Chapter.