Amendment status not verified — confirm the current text below against the official source.
(1) The Sponsoring Body shall establish an endowment fund in accordance with the provisions of section 44. (2) The Sponsoring Body shall— (i) transfer minimum of sixty acres of land held by the Trust at village- Rasur under Paralakhemundi Tahasil in the district of Gajapati; (ii) make available a minimum built up area of 10,000 square meters in the form of buildings, and ancillary structure including the existing builtup area of the Trust for administrative purposes and for conducting the academic programmes; (iii) purchase of books and journals at least worth Rupees Ten lakhs or as per the norms of the Regulatory Bodies, whichever is higher in the first year and to invest not less than Rupees fifty lakhs or as per norms of the Regulatory Bodies, whichever is higher on books, journals, computer networking and other facilities to make the library facilities adequate for contemporary teaching and research within first three years and the existing library books, journals, computer networking and other facilities of the Trust shall constitute part of the requirement. (iv) purchase equipments, computers, furniture, other movable and immovable assets and infrastructure facilities other than buildings, referred to in clause (ii) above worth Rupees twenty lakhs or as per the norms of Regulatory Bodies, whichever is higher, and give undertaking to procure within the first Right to establish the University. Establishment of University. 4 five years, equipments, computers, furniture, other movable and immovable assets and infrastructure facilities other than buildings, referred to in clause (ii) above worth not less than rupees one crore or as per norms of the Regulatory Bodies, whichever is higher and the existing equipments, computers, furniture, other movable and immovable assets and infrastructure facilities other than buildings shall constitute part of the requirement; (v) give an undertaking — (a) to appoint at least one Professor, two Readers and adequate number of Lecturers on full time basis along with necessary supporting staff in each School or department or discipline of the University prior to the date such School or department or discipline is started; (b) to take up co-curricular activities to foster a proper academic and healthy socio-cultural environment, such as seminars, debates, quiz programmes and extra curricular activities like games, sports, National Service Scheme, National Cadet Corps etc. for the benefit of students as per the norms laid down by the Regulatory Bodies; (c) to establish welfare programmes for the employees of the University; (d) to fulfil such other conditions and provide such other informations as may be prescribed by the Regulatory Bodies from time to time; (e) that the programmes of study leading to a degree or a post graduate degree or diploma offered by the University shall conform to the relevant regulations or norms of the UGC or the concerned Regulatory Body as amended from time to time; (f) that the admission procedure and fixation of fees shall be in accordance with the norms or guidelines, if any, prescribed by the Regulatory Bodies ; (g) that the teaching staff of the University shall have at leastthe minimum qualifications prescribed by the UGC or other concerned Regulatory Bodies, and be paid appropriate emoluments; (h) that the University shall be open to all persons and shall not discriminate on grounds of gender, caste, creed, religion, race, domicile and it shall not be lawful for the University to adopt or impose on any person, any test whatsoever of religious belief or any profession in order to entitle one to be appointed as a teacher of the University or to hold any other office therein or to be admitted as a student or to enjoy or exercise any privilege thereof; (i) to fulfil such other conditions and provide such other information as may be prescribed by the Regulatory Bodies.