Amendment status not verified — confirm the current text below against the official source.
(1) The University shall prepare for each financial year an annual report for each financial year containing such particulars as the Board may specify and shall submit to the Board on or before such date may be prescribed. The Board shall consider such report and may pass resolutions thereon and thereupon the Finance Committee shall take action in accordance with such resolution. The action taken by the Financial Committee on such resolution and if no action is taken, the reasons for taking no action shall be communicated to the Board. (2) The copy of the annual report along with the resolution of the Board thereon shall be submitted to the State Government.