Funds of University

(1) The University shall establish a fund to be called the University Fund.(2) The following shall from part of, or be paid into, the University Fund:-(i) all moneys received from the CEPT Trust;(ii) income of the University from all sources including income from fees and charges;(iii) all contributions or grants received from the State Government, the Central Government, the All India Council for Technical Education, University Grants Commission or any other agency;(iv) loans, gifts, donations, endowments, benefactions, bequests or transfers;(v) all moneys received by the University from the collaborating industry in terms of the provisions of the Memorandum of Understanding between the University and the industry for establishment of sponsored chairs, fellowships and infrastructure facilities of the University; and(vi) all monies received by the University in any other manner or from any other source;(3) All funds of the University shall be deposited in such banks or invested in such manner as the Board may decide on recommendation of the Finance and Development Committee.(4) The funds of the University shall be applied towards the expenses of the University including expenses incurred in the exercise of its powers and discharge of its functions in such manner, as may be prescribed by the regulations.