(1) After receipt of the report of the Scrutiny Committee constituted under section 4, if the Government is satisfied that it is advisable to establish the university, it may issue a Letter of Intent, and require the sponsoring body to,-
(a) establish an endowment fund in accordance with the provisions of section 13;
[(b) submit the registered title deeds showing that the sponsoring body either owns or possess a minimum land on leasehold basis for a minimum period of thirty years and is in possession of the said minimum land as per the norms prescribed by rules;]
(c) fulfil such other conditions and provide such other information as may be specified by the University Grants Commission or any other regulatory body established by law;
(d) construct a covered space for administrative purposes and for conducting academic programmes, as per the norms prescribed by rules, if not already available;
(e) give undertaking to appoint Professor, Associate Professor and adequate number of Assistant Professors along with necessary supporting staff in each department or discipline to be started by the university as per the norms laid down by regulatory body;
(f) give undertaking to take up co-curricular activities like seminars, debates, quiz programmes and extracurricular activities like games, sports, National Service Scheme (NSS), National Cadet Corps (NCC), etc., for the benefit of students as per the norms laid down by the regulatory body;
(g) give undertaking for establishment of provident fund and to take up welfare programmes for the employees of the university;
(h) fulfil such other conditions as to infrastructure and other requirements and provide such other information as may be laid down by regulatory body or prescribed by rules.
(2) The sponsoring body shall fulfil the requirements and conditions specified in sub-section (1) and shall report the compliance to the Government within a maximum period of one year from the date of issue of Letter of Intent. The Government may in exceptional circumstances extend the said period by an order issued by the Government on payment of such fees as may be specified therein.
(3) On receiving the compliance report by the sponsoring body, the Government shall appoint a Verification Committee by an order, to verify the compliance report.
(4) The Verification Committee shall submit its report to the Government within one month from the date of its appointment specifying whether the sponsoring body has fulfilled the requirements and conditions laid down in sub-section (1). The Government may extend the period of submission of report by the said Committee up to the maximum period of three months.
(5) If the sponsoring body fails to comply with the provision of sub-section (1), proposal submitted by the sponsoring body under section 3 shall stand rejected and the Letter of Intent issued under sub-section (1), shall be deemed to have been withdrawn.