Authorities of the University

The following shall be the authorities of the University: (i) The General Council; (ii) The Executive Council; (iii) The Academic Council; (iv) The Finance Committee; (v) The Planning Board; (vi) The Admissions Committee; (vii) Any other authority of the University which may be declared by the Statutes to be an authority of the University. Subject to the provisions of this Act, the Executive Council shall have the power to make, amend or repeal Statutes for the management, administration, and control of the University. No suit, prosecution or other legal proceedings shall lie against, and no damages shall be claimed from, the University, the Chancellor, the Vice Chancellor, the authorities or officers of the University or any other person in respect of anything which is in good faith done or purported to have been done in pursuance of this Act or any Regulations made there under. (1) The Annual Accounts of the University shall be prepared under the directions of the Executive Council. (2) The auditors appointed by the Executive Council shall audit the accounts of the University, at least once in each financial year; Provided that there shall be a Special Audit of the Accounts, if the Executive Council considers it necessary to do so, and auditors for such special Audit shall be specified by the Executive Council. (3) The accounts when audited shall be published by the Executive Council and a copy of the accounts together with the audit report shall be placed before the Executive Council and shall also be submitted to the Chancellor and the State Government. (4) The Annual Accounts shall be considered by the General Council at its annual meeting and it may pass resolutions with reference thereto and communicate the same to the Executive Council, which shall consider the suggestions made by the General Council and take such action there on, as it thinks fit; and the Executive Council shall inform the General Council at its next meeting with respect to all actions taken by it as also the reasons, if any, for not taking action. (5) The Executive Council shall prepare, before such date as may be prescribed by the Regulations, the financial estimates for the ensuing year and place the same before the General Council. (6) The Executive Council may, in cases where expenditure is to be incurred in excess of the amount provided in the budget or in cases of urgency for reasons to be recorded in writing, incur such expenditure subject to such restrictions and conditions as may be specified in the Regulations; and, where no provision has been made in the budget in respect of such excess expenditure, a report shall be made to the General Council at its next meeting.