Maintenance of Accounts

Every private professional educational institution shall maintain such accounts and other records in such manner as may be prescribed and shall submit the same to the State Government or the Committee as and when required. (1) Having regard to: (i) the location of the private unaided professional educational institution; (ii) the nature of the professional course; (iii) the cost of land and building; (iv) the available infrastructure, teaching, non teaching staff and equipments; (v) the expenditure on administration and maintenance; (vi) a reasonable surplus required for growth and development of the professional institution; (vii) any other relevant factor, the Committee shall determine, in the manner prescribed, the fee to be charged by a private unaided professional educational institution. (2) The Committee shall give the institution an opportunity of being heard before fixing any fee: Provided that no such fee, as may be fixed by the Committee, shall amount to profiteering, or commercialisation of education.