Incorporation of the University

Incorporation of the University.—

1. (1) The first Kulpati and the first members of the Court, the Executive Council and the Academic Council of the University and all persons who may hereafter become such officers or members so long as they continue to hold such office or membership are hereby constituted a body corporate by the name of the University and shall have perpetual succession and a common seal and shall sue and be sued by the said name.
2. (2) The University shall be competent to acquire and hold property, both movable and immovable, to lease, sell or otherwise transfer any movable or immovable property which may have become vested in, or may have been acquired by it, for the purpose of the University and to borrow moneys from the Central Government, the State Government or from any other source approved by the State Government and to contract and to do all other things necessary for the purposes of this Act: Provided that no immovable property shall be transferred without the prior sanction of the State Government.
3. (3) The headquarters of the University shall be at the place specified in the Second Schedule.
4. (4) In all suits and other legal proceedings by or against the University, the pleading shall be signed and verified by the Registrar and all processes in such suits and proceedings shall be issued to and served on the Registrar.
5. (5) The University shall exercise the powers and perform the duties as specified in the Second Schedule.