Council to allocate grants

(1) It shall be the duty of the Council to allocate grants to different Universities and Colleges, in the State from out of the Fund and release the same to such Institutions; (2) Notwithstanding anything contained in any law for the time being in force, the Council shall have the right to cause an enquiry to be made by such person or persons as it may consider necessary into the grants made by it to a University or College or into any expenditure made thereof after giving previous notice to such University or College, as the case may be, of its intention to cause such enquiry.