(1) The Vyavasthapana Parishad shall be the principal executive authority to manage, lay down policy and formulate Statutes and Ordinances, administer the affairs of the university and shall carry out such duties which are not specifically assigned to any other authority.
(2) It shall consist of the following members, namely:-
(i) Kulaguru-Adhyaksha (Ex-officio);
(ii) Sama-Kulaguru-Sadasya (Ex-officio);
(iii) one Adhishthata as prescribed by Statutes;
(iv) one person nominated by the Kuladhipati preferably from amongst the members of the Sanskrit Sthai Samiti of the Government of Maharashtra;
(v) one member of the Maharashtra Legislative Assembly to be nominated by the speaker of the Maharashtra Legislative Assembly;
(vi) one member of the Maharashtra Legislative Council to be nominated by the chairman of the Maharashtra Legislative Council;
(vii) the Secretary, Higher Education or his nominee not below the rank of Deputy Secretary (Ex-Officio);
(viii) the Director of Higher Education or his nominee not below the rank of Joint Director of Higher Education (Ex-officio);
(ix) one Head of the University Department as prescribed by statutes;
(x) one Head of a college, institute, or Pathashala as prescribed by Statutes;
(xi) one teacher from the University Departments as prescribed by statutes;
(xii) one teacher who is not principal from amongst the teachers of the affiliated colleges and recognised institutions with ten years teaching experience as prescribed by statutes;
(xiii) one Adhyaksha of Adhyayan Mandala as prescribed by statutes;
(xiv) one member of the Vidvat-Parishad nominated by the Kulaguru;
(xv) Sanchalaka-Niyojana-Vikasa Mandala (Ex-officio).
(3) The Kulasachiva of the university shall be ex-officio Secretary of the Vyavasthapana Parishad, but shall not have the right to vote.
(4) The Vitta-Lekha Adhikari and the Pariksha Niyantraka shall be permanent invitees of the Vyavasthapana Parishad, but they shall have no right to vote.
(5) There shall be not less than four meetings of the Vyavasthapana Parishad in a year and the rules of procedure for conduct of business to be followed at a meeting including the quorum at the meeting and such other matters in relation to meetings as may be necessary shall be such as may be prescribed.