Permanent Statutory Endowment Fund.-(1)The

1[University] shall est ablish a Permanent Statutory Endowment Fund of at least rupees twenty-five crores which may be increased suo mot o but shall not be decreased.

1. (2) The 1[University] shall have power to invest the permanent Statutory Endowment Fund in such manner as may be prescribed.
2. (3) The 1[University] may transfer any amount from the General Fund or the Development Fund to the permanent Statutory Endowment Fund. Excepting in the dissolution of the 1[University] , in no other circumstances can any moneys be transferred from permanent Statutory Endowment Fund for other purposes.
3. (4) Seventy five perc ent of the inc omes rec eived from permanent Statut ory Endowment Fund shall be used for the purpose of development or general w ork of the 1[University] . The remaining twenty five percent shall be reinvested in the permanent Statutory Endowment Fund. 48. 1[University] Endowment Fund.- (1) The 1[University] shall establish a 1[University] Endowment Fund having such funds as may be determined by the Sponsoring Body which can include donations and other funds received from time to time.
4. (2) The 1[University] shall have the pow er to invest the 1[University] Endowment Fund in a manner as may be specified by the Statut es and Regulations.
5. (3) The 1[University] Endowment Fund is a self-imposed fund that the 1[University] desires t o maintain voluntarily and invest it responsibly t o prot ect itself from financial challenges that may aris e on account of pursuing social objectives and/or unforeseen circumstance.
6. (4) The 1[University] may transfer any amount from the General Fund or the development fund to the [ 1[University] Endowment Fund. Excepting in the dissolution of the 1[University] , in no other circumstances moneys can be transferred from the 1[University] Endowment Fund for other purposes.
7. (5) Eighty percent of the incomes received from the 1[University] Endowment Fund shall be used for the purposes of development or general work of the 1[University] . The remaining twenty perc ent shall be reinvest ed into the 1[University] Endowment Fund.

¹ Substituted by Act 13 of 2018 w.e.f 17.03.2018.

¹ Substituted by Act 13 of 2018 w.e.f 17.03.2018.