(1) There shall be a Managing Director of the Foundation.
(2) The Managing Director shall be appointed by the Government, on the recommendation of the Chairperson, subject to fulfilling selection criteria specified in subsection (3) and on such terms and conditions as prescribed;
(3) The person to be appointed as a Managing Director shall be an academic person/eminent researcher in any field not below the rank of Professor with administrative experience; or an academic ---8--- person/eminent researcher not below the rank of Associate Professor with minimum of 10 years of Teaching/Research experience, a minimum of 10 research publications in the Journals listed in Group II of UGC CARE (University Grants Commission Consortium for Academic and Research Ethics), and shall have administrative experience;
(4) The term of office of the Managing Director shall be three years or till he attains the age of sixty five years, whichever is earlier, and he shall be eligible for another term on recommendation of the Chairperson.
(5) The salary and other emoluments of the Managing Director shall be at the level of Professor Grade in accordance with guidelines of University Grants Commission, at the Level 14 of Pay Matrix issued by University Grants Commission under 7th Pay Commission.