Chapter II THE INSTITUTE

1. (1) On and from the appointed date, the Madras School of Economics shall be a body corporate by the same name. Incorporation of Institute.
2. (2) The Institute shall have a perpetual succession and a common seal with powers, subject to the provisions of this Act, to acquire and hold property, to contract, to do such other things necessary for the purposes of this Act and shall, by the said name, sue and be sued.
3. (3) The Institute may establish regional centres, additional campuses and study centres at such places in this State as it deems fit subject to the norms of the UGC and other regulatory bodies.
4. (4) The headquarters of the Institute shall be at Chennai, Tamil Nadu.

1. (1) The objects of the Institute shall be—
   • (a) to advance and disseminate learning and knowledge of economics and its allied subjects and management, so as to play a role in the national development;
   • (b) to become a globally reputed institution of excellence in the field of higher education focusing on economics, its allied subjects and management;
   • (c) to develop the Institute into an advanced centre for teaching, research, training and policy advocacy;
   • (d) to undertake training programmes for policy makers and others from public and private sectors;
   • (e) to offer consultancy and to accept sponsored projects in the field of economics, its allied subjects and management;
   • (f) to develop in the students and research scholars, a sense of responsibility to serve the society at large in the field of higher education and to organise lectures, seminars, symposia and conferences to promote knowledge and to make economic strategies as efficient instruments of social development;
   • (g) to hold examinations and confer degrees or other academic distinctions;
   • (h) to take all such measures for the promotion of research in respect of social and economic development and to perform all such academic functions and undertake such other academic activities as deemed necessary; and
     • (i) to take up works as may be entrusted by the State Government or the Central Government or other Government Agencies, corporate bodies, public or private from time to time, in the fields of economics, management, education and related aspects.

The Institute shall exercise the following powers and perform the following functions, namely:-

1. (a) to administer and manage such centres for research, education and instruction as may be necessary for the furtherance of the objects of the Institute;
2. (b) to provide for instructions in such branches of learning as the Institute may, from time to time, determine and to make provisions for research and for the advancement and dissemination and application of knowledge and skills;
3. (c) to impart and promote the study of economics and allied subjects and management courses through in-campus, off-campus and satellite centres or by distance educational programmes;
4. (d) to honour educational stalwarts and persons of academic eminence with the decoration of Professor Emeritus;
5. (e) to grant, subject to such conditions as the Institute may determine and confer, diplomas, certificates, degrees or other academic distinctions on the basis of examinations, evaluation or any other method of testing and to withdraw any such diplomas, certificates, degrees or other academic distinctions for good and sufficient cause;
6. (f) to confer honorary degrees or other distinctions on persons in the manner laid down in the ordinances;
7. (g) to provide education and training including correspondence and such other courses, to such persons who are not members of the Institute, as it may determine;
8. (h) to create administrative, ministerial and other posts and to make appointments thereto;
   • (i) to appoint either on contract or otherwise, visiting professors, emeritus professors, consultants, fellows, scholars, artists, course writers and such other persons who may contribute to the advancement of the objects of the Institute;
9. (j) to appoint or engage persons of eminence working in any other University or Organisation permanently or for a specified period;
10. (k) to co-operate, collaborate or associate with any other University or Authority or Institution in India or abroad in such manner and for such purposes as laid down in the statutes;
11. (l) to establish and maintain schools, centres, specialised laboratories or other units for research and instructions as are in the opinion of the Institute, necessary for the furtherance of its objects;
12. (m) to institute and award fellowships, scholarships, studentships, medals and prizes for meritorious students;
13. (n) to establish and maintain and supervise residences, hostels and promote the health and general welfare activities of students and staff, and recognize places of residence for the students;
14. (o) to make provisions for research and consultancy, and for that purpose, to enter into such arrangements with other institutions or bodies as the Institute may deem necessary;
15. (p) to declare a centre, an institution, a department or school, as the case may be, in accordance with the statutes;
16. (q) to determine standards for admission into the Institute, which may include examination, evaluation or any other method of testing;
17. (r) to prescribe, demand and receive payment of fees and other charges; to make such arrangements in respect of the residence, discipline and teaching of women and other disadvantaged students as the Institute may deem fit;
18. (t) to regulate and enforce discipline amongst the employees and students and take such disciplinary measures in this regard as may be deemed necessary by the Institute;
19. (u) to organize and undertake extra-mural teaching and extension services;
    • (v) to establish such special centres, specialized study centres or other units for research and instruction as are, in the opinion of the Institute, necessary for the furtherance of its objects;
20. (w) to institute Professorships, Associate Professorships, Assistant Professorships and any other teaching, academic or research posts required by the Institute;
    • (x) to receive grants, endowments, subscriptions, donations and gifts for the purposes of and consistent with the objects of the Institute;
21. (y) to acquire, hold, manage and dispose of any property, movable or immovable, for the welfare of the Institute with the prior approval of the Governing Council: Provided that no land granted by the Government shall be disposed of without the prior permission of the Government;
22. (z) to borrow money without security or by way of hypothecation or mortgage against the property of the Institute, with the approval of the Governing Council;
23. (aa) to do all such other acts and things as or may be necessary, incidental or conducive to the attainment of any or all of the objects of the Institute.

The Institute shall be a self-financing Institute:

Admission and standards

1. (1) The Institute shall, subject to the provisions of this Act and the relevant rules and regulations of the UGC and other regulatory bodies, as the case may be, be open to all persons, irrespective of race, creed, caste or class or religion.
2. (2) No person shall be admitted to a course of study in the Institute for admission to the examinations for degrees, titles or diplomas of the Institute unless he,—
   • (i) has passed the examination prescribed therefor; and
   • (ii) fulfills such other academic conditions as may be prescribed.
3. (3) Nothing contained in sub-sections
4. (1) and
5. (2) shall require the Institute,—
   • (a) to admit to any course of study any person who does not possess the prescribed academic qualification or standard;
   • (b) to retain on the rolls of the Institute any student whose academic record is below the minimum standard required for the award of a degree or other academic distinction;
   • (c) to admit any person or retain any student whose conduct is prejudicial to the interest of the Institute or the rights and privileges of other students and teachers; or
   • (d) to retain on rolls of the Institute any student who fails to remit necessary fees as prescribed for the course.
6. (4) Subject to the provisions of sub-sections (1),
7. (2) and
8. (3) and the standard admission process of the Institute as may be prescribed, the Institute shall reserve thirty five percentage of seats in each course of study for resident students of Tamil Nadu.
9. (5) Admission of students to thirty five percentage of seats reserved for resident students of Tamil Nadu under sub-section
10. (4) shall be made following the reservation as per law in force. Explanation.— For the purpose of this section, “resident student of Tamil Nadu” means—
    • (i) a student who or either of whose parents has resided in the State of Tamil Nadu for a period of not less than five years preceding the qualifying examination; or
    • (ii) a student who has studied in any one of the educational institutions in the State of Tamil Nadu for a period of not less than five years leading to the qualifying examination.
11. (6) Notwithstanding anything contained in sub-sections
12. (4) and (5), where adequate number of resident students of Tamil Nadu are not available for admission, the seats reserved for such students, shall be filled up with the remaining students on merit.

1. (1) Every candidate for an examination conducted by the Institute shall, unless exempted from the provisions of this sub-section by a special order of the Executive Council made on the recommendation of the Academic Council, be enrolled as a member of the Institute. Any such exemption may be made subject to such conditions as the Executive Council may think fit.
2. (2) No candidate shall be admitted to any examination conducted by the Institute, unless he is enrolled as a member of the Institute, and has satisfied the requirements as to the attendance required for the same or unless he is exempted from such requirements of enrolment or attendance or both by an order of the Executive Council made on the recommendation of the Academic Council. Any exemption granted under this section shall be subject to such conditions as the Executive Council may think fit.
3. (3) Any student or candidate for an examination, whose name has been removed from the rolls of the Institute by an order of the Controller of Examinations, and who has been debarred from appearing at the examinations for more than one year, may within ten days of the date of receipt of such order, appeal to the Director.
4. (4) Any decision taken by the Director in this regard shall be final.