(1) Notwithstanding anything contained in any law for the time being in force or in any judgment, decree or order of any court or any other authority or in any agreement, the admission of students into a self financing professional college shall be made on the basis of merit as provided in sub-sections (2) to (6).
(2) In every self financing professional college fifty per cent of the total seats in each branch shall be Government Quota and the remaining fifty per cent shall be Management Quota.
(3) Seats in the Government Quota shall be filled up based on counseling by the Commissioner for Entrance Examinations on the basis of the ranks in the common entrance examination conducted by him, following the principles of reservation as ordered by the Government from time to time.
(4) Seats in the Management Quota shall be filled up either from the list prepared on the basis of the Common Entrance Examination conducted by the Commissioner for Entrance Examinations or from the list prepared on the basis of the common entrance test conducted by a consortium of a particular type in the State:
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Provided that managements shall have the option to earmark 1[not more than 15 seats in the Management Quota] to dependents of Non-Resident Indians and in that case the admission of the candidates shall be made on the basis of the marks they have obtained in the qualifying examinations.
(5) Educational qualification for admission in the self financing professional college shall be the same as are applicable to the corresponding courses in the Government colleges as may be notified by the Government from time to time.
(6) Notwithstanding anything contained in sub-section (1), lapsed seats, if any, may be filled up by the management in accordance with sub-sections (4) and (5).