Chapter IV MISCELLANEOUS PROVISIONS

1. (1) The University shall establish a General Fund to which following amount shall be credited, namely:
   • (i) all monies provided by the Sponsoring Body;
   • (ii) all fees and other charges received by the University;
   • (iii) all monies received by the University by way of loans, gifts, donations, benefactions, bequests or transfers;
   • (iv) all monies received by the University from collaborating with 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
   • (v) all monies received from national, international philanthropies, and non-governmental agencies within and outside India which are not prohibited by any law for the time being in force.
2. (2) 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 Committee.
3. (3) The Fund established under this section shall, subject to the general supervision and control of the Board be regulated and maintained in such manner as may be prescribed.
4. (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.

1. (1) The University shall maintain proper accounts and other records and prepare an annual statement of accounts including the income and expenditure account and the balance sheet, in such form and in such manner, as may be prescribed.
2. (2) The University shall adopt a proper system of internal checks and balances and controls in the discharge of its finance, accounting and auditing functions as may be prescribed.
3. (3) The Accounts of the University shall be audited not less than once a year by a statutory Auditor who shall be a Chartered Accountant or a firm of Chartered Accountants as defined in the Chartered Accountants Act, 1949, who shall be appointed by the Board.
4. (4) The Accounts of the University shall be certified by the person or firm so appointed or any other person authorized in this behalf, together with the audit report thereon, shall be placed before the Board and the Board may issue such instructions to the University in respect thereof, as it deems fit and the University shall comply with such instructions.
5. (5) The Accounts of the University shall be audited by an internal auditor who shall be a Chartered Accountant or a firm of Chartered Accountants appointed by the Board, to ensure audit of all books of accounts, and such periodic internal audit reports shall be placed before the Board for review.

1. (1) The Annual Report of the University shall be prepared under the direction of the Vice-Chancellor and shall be submitted to the Board for its approval.
2. (2) The Board shall, consider the annual report in its meeting and may approve the same with or without modification.
3. (3) A copy of the Annual Report duly approved by the Board shall be sent to the President and to the Government on or before the 31st December following the closure of the financial year on the 31st March each year.

1. (1) The University shall, with the approval of the Board, constitute for the benefit of its officers, teachers and other employees in such manner subject to such conditions, as may be prescribed, such schemes of pension, Provident Funds and insurance as it deem fit and also aid in establishment and support of the associations, institutions, funds, trusts and conveyance calculated to benefit the staff and the students of the University.
2. (2) Where any such Provident Fund has been so constituted, the provisions of the Provident Fund Act, 1925 shall apply to such funds as if it were a Government Provident Fund.

No act or proceeding of the Board or any Authority of the University or any Committee constituted under this Act or by the Regulations shall be questioned on the ground merely of the existence of any vacancy in, or defect in, the constitution of the Board, Authority or Committee of the University.

The University shall furnish to the Regulatory Bodies such reports, returns, statements and other information as may be required by them, from time to time.

1. (1) If the Sponsoring Body proposes the dissolution of the University it shall give a notice to that effect in the prescribed manner to the Government, the employees and the students of the University at least one year in advance: Provided that dissolution of the University shall take effect only after the last batches of students of the regular courses who have been admitted before issuance of notice have completed their courses and they have been awarded degrees, diplomas or awards, as the case may be.
2. (2) On dissolution of the University all the assets and liabilities of the University shall vest in the Sponsoring Body, except the land, if any, leased out by the Government which shall be resumed by the Government.

1. (1) Subject to the provisions of this Act and in conformity with the norms of the U.G.C., the Board shall have, in addition to all other powers vested in it, the power to make Regulations to provide for the administration and management of the affairs of the University: Provided that the first set of Regulations shall be prepared by the Board and shall be submitted to the Government for approval: Provided further that no amendment to the first set of Regulations shall be made by the Board without approval of the Government.
2. (2) In particular and without prejudice to the generality of the foregoing powers, such Regulations may provide for all or any of the following matters, namely:
   • (i) summoning and holding the meetings of the Authorities of the University other than the first meeting of the Board and the quantum and conduct of business at such meetings;
   • (ii) constitution, powers and duties of the authorities, bodies and other committees of the University established under this Act including the qualifications and disqualifications for members of such Authorities, term of office of the members, appointment and removal of members thereof and other matters connected therewith;
   • (iii) procedure to be followed by the Board and any Committee or other body constituted under this Act or by the Regulations in the conduct of the business, exercise of the powers and discharge of the functions;
   • (iv) procedures to be followed for creation of centers of excellence and management of the centers;
   • (v) the admission procedure and fixation of fees in conformity with the norms and guidelines prescribed by the U.G.C., other concerned Regulatory Bodies and in adherence to the fee control regulation of the Government;
   • (vi) the procedure to be followed for enforcing discipline in the University;
   • (vii) the management of the properties of the University;
   • (viii) degrees, diplomas, certificates and other academic distinctions and titles which may be conferred or granted by the University and withdrawal or cancellation of any such degrees, diplomas, certificates and other academic distinctions and titles and the requirements thereof;
   • (ix) conduct of examinations including the term of office and appointment of examiners;
   • (x) creation of posts of Professors, Associate Professors, Assistant Professors, Readers, lecturers, instructors or equivalent academic designations or posts, officers and employees of the University and the appointment of persons to such posts including the qualifications requisite therefore;
   • (xi) the manner and conditions for constitution of Insurance, pension and provident funds and such other schemes for the benefit of officers, teachers and such other employees of the University;
   • (xii) the terms and conditions applicable for association of the University with other institutions;
   • (xiii) preparation of budget estimates and maintenance of accounts;
   • (xiv) mode of execution of contracts or agreements by or on behalf of the University;
   • (xv) classification and procedure for appointment of officers and staff of the University;
   • (xvi) terms and tenure of appointments, salaries and allowances, contractual services, rules and discipline and other conditions of service of the Vice-Chancellor, other officers, teachers and employees of the University;
   • (xvii) all terms and conditions governing deputation of officers and staff of the University; (xviii) the powers and duties of the Vice-Chancellor and other officers, teachers and employees of the University;
   • (xix) the terms and conditions governing fellowship, scholarships, stipends, medals and prizes;
   • (xx) authentication of the orders and decisions of the Board;
   • (xxi) all matters relating to hostels and halls of residence including disciplinary control therein; and
   • (xxii) any other matter in relation to administration, management and control of the University.

Any casual vacancy among the members, other than ex-officio members, of any authority or Body of the University shall filled in the same manner in which the member whose vacancy is to be filled, was chosen and the person filling the vacancy shall be a member of such Authority or Body for the residue of the term for which the person whose place he fills would have been a member.

1. (1) No suit or other legal proceedings shall lie against any officer or other employee of the University for anything, which is done in good faith or intended to be done in pursuance of the provision of this Act or the Regulations.
2. (2) Nothing in sub-section
3. (1) shall be a bar for filing suits, prosecution or other legal proceedings for anything done in contravention of the provision of this Act and the Regulations made thereunder.

Notwithstanding anything contained in this Act, the Vice-Chancellor may, with the prior approval of the President and subject to availability of funds, discharge all or any of the functions of the University for the purpose of carrying out the provisions of this Act and the Regulations and for that purpose may exercise any power or perform any duty which, by this Act and the Regulations, are to be exercised or performed by any Authority of the University until such Authority comes into existence as provided by this Act and the Regulations.

The Government shall have powers to issue directions, from time to time, as may be required to be followed by the University under the provisions of this Act and the Regulations made thereunder and under any other law for the time being in force.

The Government shall not bear any financial liability for establishment of the University or for any action of the University or its officers or functionaries.

Subject to the provisions of this Act and Regulations, any officer or authority of the University may, by order, delegate his or its powers, except the power to make Regulations, to any other officer or Authority under his or its control and subject to the condition that the ultimate responsibility for the exercise of the power so delegated shall continue to vest in the officer or Authority delegating them.

1. (1) If any difficulty arises in giving effect to the provisions of this Act, the Government may, by order make such provisions, not inconsistent with the provision of this Act, as may appear to it to be necessary or expedient, for removing the difficulty: Provided that no such order shall be made after the expiry of a period of two years from the date of commencement of this Act.
2. (2) Every order made under sub-section
3. (1) shall, as soon as may be after it is made, be laid before the State Legislature.