(1) The Government may, after considering the report submitted by the Verification Committee under sub-section (4) of section 5, if satisfied that the sponsoring body has complied with the provisions of section 5, permit the establishment of a private university, by inclusion of the name, location and headquarters of the private university and its sponsoring body in Part II of the Schedule by amending the Schedule by enacting a law by the State Legislature :
[Provided that, the universities specified in Part II of the Schedule on the date of commencement of this Act shall be deemed to have been established on that date.]
(2) The President, Vice-Chancellor and members of the Governing Body, Board of Management and Academic Council and all other persons who may hereafter become such officers or members, so long as they continue to hold such office or membership, are hereby constituted and declared to be a body corporate by the name specified therefor in the Schedule.
(3) The universities mentioned in the Schedule shall have perpetual succession and common seal and shall sue and be sued by that name.
(4) In relation to each of the existing university and its sponsoring body specified in columns (2) and (4), respectively, of Part I of the Schedule, the corresponding university with the name, location and headquarters specified against it in column (3) of the said Part, is deemed to have been established under this Act, for the objects for which it was constituted immediately before the date of commencement of this Act and the provisions of this Act shall be applicable to such university.
(5) The university shall function as a non-affiliating unitary university established under this Act and it shall not affiliate any other college or institute for the award or conferment of degree, diploma or certificate to the students admitted therein.
(6) Every university shall obtain accreditation from the National Assessment and Accreditation Council (NAAC) or the National Board of Accreditation (NBA) within five years from its establishment.
(7) Every university shall establish an Internal Quality Assurance Cell as required by the National Assessment and Accreditation Council for continual internal assurance process and periodic external peer review. The quality reports shall be submitted to the Government.