Establishment or incorporation of a New Private University:-

9. Establishment or incorporation of a New Private University:- (1) The Government, if satisfied, after considering the compliance report submitted under Section 4 that the sponsoring body has complied with the provisions of sub-section (4) of Section 8, may, bring appropriate legislation, to amend the schedule III for inclusion of the name of the new Private University. A notification will be published in the State झारखण्ड गजट (असाधारण) सोमवार, 25 नवम्बर, 2024 Gazette permitting the new Private University to be incorporated with such name, location, and jurisdiction. (2) Names of the new Private Universities to be established under this Act shall be included in the Schedule III. (3) After the publication of notification in the State Gazette, the Government will issue a letter of incorporation (Annexure-3) to the sponsoring body, which shall specify the conditions to be fulfilled by the newly incorporated Private University for the commencement of its regular operations such as students’ admissions, running the courses, awarding the degrees etc. (4) The said notification in section-9(1) and the said letter of incorporation in section-9(3) will be sent to UGC and Ministry of Education, Government of India for information. (5) The sponsoring body, will be required to fulfill the conditions of the Letter of Incorporation mentioned in sections-9(3), within a period of two (2) years, as stated below: (a) The sponsoring body within thirty (30 days) of issuance of Letter of Incorporation as per section-9(3) shall submit a security deposit in the form of a Bank Guarantee (BG) of Rs 1 Crore (valid for a period of 16 years) from the date of issuance of Letter of Incorporation, which shall be invoked by the Government, in case of dissolution or de-recognition as stated in section 51, section 53, and sub-sections (4)e and (4)(f) of section 8 respectively. (b) The sponsoring body will be required to make an application to UGC to enlist the newly incorporated Private University in the UGC List of Authorized Universities; (c) The Private University must meet the norms, notification, regulations and guidelines as laid down by UGC from time to time, offer all academic and non- formal courses as per UGC guidelines on the same, adhere to the nomenclature of degrees and programs as specified by the UGC and set up statutes, regulations, rules, ordinances and constitute authorities like The Governing Body, The Board of Management, The Academic Council and Finance Committee, etc. as mentioned in Section 24 to deal with governance, academic, administration and financial issues, etc.; (d) The Private University shall maintain standards, higher than the minimum, of instruction, academic and physical infrastructure, qualifications of teachers, etc. as prescribed for higher education institutions by the Regulatory body concerned, such as All India Council for Technical Education (AICTE), Medical Council of India (MCI),Dental Council of India (DCI), National Council for Teachers Education(NCTE), Bar Council of India (BCI), Indian Nursing Council (INC), etc. and shall obtain their approval for running various programs of study as applicable; and (6) The Private University shall not admit any college or institution to the privilege of affiliation. (7) It is mandatory for the Private University to get itself assessed by NAAC/NBA within six years of its commencement/ or on the date of first eligibility (for the accreditation), whichever is earlier and will also have to fulfill all other requirements / criteria laid down by various regulatory bodies as applicable.