Permanent Statutory Endowment Fund

(1) The University shall establish a Permanent Statutory Endowment Fund of at least Rs. 25,00,00,000 out of which at least Rs. 15,00,00,000 shall be in cash and remaining in the form of Bank Guarantee which may be increased suoMoto but shall not be decreased. (2) The University shall have power to invest the permanent Statutory Endowment Fund in such manner as may be prescribed by the rules. (3) The University may transfer any amount from the General Fund or the Development Fund to the Permanent Statutory Endowment Fund except in the event of dissolution of the University, and in no other circumstances can any amount be transferred from permanent Statutory Endowment Fund for any other purposes. (4) Seventy five percent of the incomes received from permanent Statutory Endowment Fund shall ordinarily be used for the purpose of development or general work of the University. The remaining twenty five percent shall be re-invested in the Permanent Statutory Endowment Fund.