New Delhi: The law says a school cannot be bought and sold like any other commercial property. But a CNN-IBN Special Investigation exposes how crores of rupees change hands as schools are openly traded in Delhi.
According to real estate brokers, Delhi’s Tyagi Public School is up for sale, unofficially.
The school, run by M S Educational society, receives 95 per cent aid from the government and selling it is not permitted.
But when CNN-IBN contacted brokers as decoy customers, they showed the Tyagi Public School among others as saleable property.
"This is the school. They have two schools in these premises. That side is the aided school and this is a private school. You will get both," said a broker, Rajbeer.
Rajbeer had no problems accessing and showing the school premises since it was closed for a vacation and because some school officials know him.
The modus operandi is simple. Once the broker is convinced, a genuine party - willing to invest in the school – takes over.
H S Yadav, ex-education officer in the Directorate of Education and now a dealer in schools, was one of the men willing to make that deal.
"I am an Education officer. I have done many deals," he said.
Yadav showed all the ownership documents including society papers to list of members of Tyagi Public School.
Finally, a deal for Rs 22 crore was sealed and a cut for each member decided.
"The deal is sealed for Rs 22 crore. I will convince the party for Rs 18 crore. I will keep Rs 1 crore and you can keep one," Yadav said.
In the next meeting, the school - without any verification, experience or even an assurance on whether it would be sold again or used for teaching - would have been ours had we given Rs 4 crore.
But instead of going with the money, the team confronted the Chairman of the school, Yashovardhan Tyagi.
And he was quick to deny that his school was up for sale.
"Please, please, please this school is not for sale," Tyagi said.
When asked how the property documents reached the brokers, Tyagi said, "It may have been a mistake on my part. I owe moral responsibility. I don't know how the documents leaked."</a><a href='http://www.ibnlive.com/news/pay-up-and-buy-a-school-in-delhi/22156-3.html'><b><u>Pay up and buy a school in Delhi</u></b></a>