Indemnity

No suit, prosecution or other legal proceedings shall lie against and no damages shall be claimed from the University, the Chancellor, the Vice-Chancellor, the authorities or officers of the University or any other person in respect of anything which is in good faith done or purported to have been done in pursuance of this Act or any regulations made thereunder. (1) The Annual Accounts of the University shall be prepared under the directions of the Executive Council. (2) Provided that Special Audit, whenever considered necessary by the Executive Council, shall be done by such auditors, as it may specify. (3) The accounts when audited shall be published by the Executive Council and a copy of the accounts together with the audit report shall be placed before the Executive Council and also shall be submitted to the Chancellor and the State Government. (4) The Annual Accounts shall be considered by the General Council at its annual meeting and the General Council may pass resolutions with reference thereto, and communicate the same to the Executive Council. The Executive Council shall consider the suggestions made by the General Council and take such action there on, as it thinks fit. The Executive Council shall inform the General Council at its next meeting with respect to all actions taken by it as also the reasons for not taking action. (5) The Executive Council shall prepare, before such date as may be prescribed by the regulations, the financial estimates for the ensuing year and place the same before the General Council. (6) The Executive Council may, in case where expenditure in excess of the amount provided in the budget is to be incurred or in cases of urgency for reasons to be recorded in writing, incur expenditure subject to such restrictions and conditions as may be specified in the regulations. Where no provision has been made in the budget in respect of such excess expenditure, a report shall be made to the General Council at its next meeting.