Establishment of the University.

(1) There shall be established a private University by the name of the Plaksha University, Punjab in the State of Punjab. (2) The University shall be run and managed by the Foundation in accordance with the provisions of this Act. (3) The University shall be a body corporate by the name mentioned in sub-section (1) and shall have perpetual succession and a common seal. It shall have the power to acquire, lease, hold, mortgage and dispose of property, both moveable and immovable and to make contracts, and shall sue and be sued by the said name. (4) The Headquarter of the University shall be located at Block B, Sector 101 - Alpha, IT City, Sahibzada Ajit Singh Nagar, Punjab – 140306. (5) The University shall be self-financed and it shall not be entitled to receive any grant or other financial assistance from the State Government.