Amendment status not verified — confirm the current text below against the official source.
Establishment of the University.- (1) Where the State Government on considering the recommendations of the Screening Committee and after such inquiry as it may deem necessary, if satisfied that the Company has ability to run an University with sufficient infrastructure based on the furnished particulars required in sub-section (3) of section 3, it may direct the Company to establish the permanent Statutory Endowment Fund as specified in section 47. (2) After the establishment of the Permanent Statutory Endowment Fund, the State Government may, by notification, in the Official Gazette, accord sanction for establishment of the University in the State by the name of “Alliance University.” (3) The head quarters of the University shall be at such place, as may be decided by the Sponsoring Body in the State. The University shall have Campuses or Regional Centres, and Study Centres anywhere in India or overseas, subject however to the permission of the concerned Government, if any, required. (4) The Chancellor, the Vice-Chancellor, members of the Board of Governors, members of the Board of Management and the Academic Council for the time being holding office as such in the University so established, shall constitute a body corporate and can sue and be sued in the name of the University. 8 (5) On the establishment of the University under sub-section (2), the land and other movable and immovable properties acquired, created, arranged, or built by the University for the purpose of the University wherever situated shall vest in the University. (6) In all suits and other legal proceedings by or against the University, the pleading shall be signed and verified by, and all processes in such suits and proceedings shall be issued to and be served on the Registrar. (7) The land, building, and other properties in the University shall not be used for any other purpose.