(1) The Comptroller of each University shall be a whole-time salaried officer of the University. He shall be an officer belonging to the Indian Audit and Accounts Service or the Maharashtra Finance and Accounts Service appointed by the State Government on deputation, for such period as the State Government may, from time to time, fix. His terms and conditions of service shall be such as the State Government may determine.
(2) The Comptroller shall, under the general supervision and control of the Vice-Chancellor, hold and manage the property and investments of the University and shall advise the University as regards its financial policy.
(3) The Comptroller shall,-
(a) ensure that no expenditure, not authorised in the budget, is incurred by the University;
(b) be responsible for ensuring that the expenditures are made as authorised in the budget; when any budget revisions are required in the interest of expediting new programmes, changed requirements or any other reasons, he shall be responsible for preparing the needed revisions and expediting their approval by the concerned authorities;
(c) disallow any expenditure, which may contravene any provision of this Act or any Statutes made thereunder or for which provision is required to be made by or under this Act or any such Statute;
(d) propose to the Executive Council that explanation be called for unauthorised expenditure or other financial irregularities in any particular case and recommend disciplinary action against the persons at fault.
(4) The Comptroller may by writing under his hand addressed to the Vice-Chancellor resign his office. The resignation shall be delivered to the Vice-Chancellor ordinarily sixty days prior to the date on which the Comptroller wishes to be relieved of his office, but the Executive Council may relieve him earlier. The resignation shall take effect from the date of relief.
(5) The Comptroller shall exercise such other powers and perform such other duties as are laid down by or under this Act or may be conferred or imposed on him by the Statutes or by the Vice-Chancellor.