Amendment status not verified — confirm the current text below against the official source.
Conditions for the establishment of the University. — The sponsoring body shall, for the purposes of establishing the University under this Act fulfil the following conditions, namely: — (a) create a permanent endowment fund of at least rupees five crores; (b) 3[own or possess on long term lease basis a land, buildings] and infrastructure facilities required for establishing University; (c) install equipment’s, computers, furniture, assets, infrastructural facilities (other than building mentioned in clause (b) and other consumables and non-consumables of at least rupees two crores in offices and laboratories in the building referred to in clause (b); and undertake to procure the computers, furniture, assets, infrastructural facilities (other than building mentioned in clause (b) and other consumables and non-consumables of atleast rupees four crores in the next five years after establishing University; (d) appoint at least one Professor, two Associate Professors and sufficient number of Assistant Professors and supporting staff members in every department or discipline. (e) purchase books and periodicals worth 4[rupees fifty thousand rupees fifty lakhs] in the library and also undertake to invest 5[up to rupees five crores] for the books, periodicals, computer library networking and other library facilities in the first three years after establishing the University; (f) undertake to arrange the co-curricular activities, extracurricular activities, debate, competitions, quiz programmes, sports, National Service Scheme and National Cadet Corps for the students as per the standards of regulatory bodies; (g) undertake to adhere standards, conditions and regulations set by University Grants Commission, All India Council for Technical Education, National Council for Teachers Education, Bar Council of India, Medical Council of India and other regulatory bodies established by the Government or Central Government; (h) undertake to establish the provident fund for the employees of the University and to introduce other welfare schemes; (i) make the Statutes and the Ordinances for the administration and functioning of the University; (j) any arrangements made by the University shall not differ from the provisions of the Act and regulations of the University Grants Commission and other regulatory bodies; (k) ensure transparent functioning of the University and put the clearances obtained from the Regulatory Bodies in the public domain; (l) furnish such information to the Government in such manner as may be prescribed; (m) comply with such other conditions as may be notified by the Government to be fulfilled before the establishment of the University.