Amendment status not verified — confirm the current text below against the official source.
Endowment Fund : (1) The Sponsor shall establish an endowment fund ol rupees three crore in the form ol FDR in favor of University; pledged to lhe Sate Government, opened in a nationalized bank. (2) The University shall have the power to invest the endowmenl fund in such a manner as may be prescribed ; (3) The University may transfer any amount lrom the general fund or the development fund to endowment fund, excepting in the dissolution of the University, in no other circumstances can any money be transfened ,rom the endowment rund for other purposes ; (4) Not exceeding seventy five per cent of the incomes received from the endowment fund shallbe used forthe purpose of development work of the University, the remaining twenty live per cent shall be reversed in to endowment fund ;