Amendment status not verified — confirm the current text below against the official source.
Permanent Endowment Fund: (i) The Sponsor/ University shall establish an endowment fund of at least Rupees One Crore; (ii) The University shall have power to invest the endowment fund in such manner as may be prescribed; (iii) The University may transfer any amount from the general fund or the development fund to the endowment fund. Excepting in the dissolution of the University, in no other circumstances can the money be transferred from the endowment fund for other purposes: (iv) Not exceeding 75% of the income received from the endowment fund shall be used for the purposes of development works of the University. The remaining 25% shall be reinvested into the endowment fund; {(v) The University may utilize the income from the Endowment Fund for the Development of infrastructure of the University and not to meet the recurring expenditure of the University.