(1) Any dispute arising out of a contract between the Institute and any of its employees shall, at the request of the employee concerned or at the instance of the Institute, be referred to a Tribunal or Arbitration consisting of one member appointed by the Institute, one member nominated by the employee and an umpire appointed by the Visitor.
(2) The decision of the Tribunal of Arbitration shall be final and shall not be questioned in any court.
(3) No suit or proceeding shall lie in any court in respect of any matter which is required by sub-section ( i ) to be referred to the Tribunal of Arbitration.
(4) The Tribunal of Arbitration shall have power to regulate its own procedure.
(5) Nothing in any law for the time being in force relating to arbitration shall apply to arbitrations under this section.
CHAPTER III MISCELLANEOUS 31 . No act of the Institute or Board or Senate or any other body set up under this Ordinance or the Statutes, shall be invalid merely by reason of—
(a) any vacancy in, or defect in, the constitution thereof, or
(b) any defect in the election, nomination or appointment of person acting as a member thereof,or
(c) any irregularity in its procedure not affecting the merits of the case.
32. Notwithstanding anything contained in the University Grants Commission Act, 1956 or in any other law for the time being in force, the Institute shall have power to grant degrees and other academic distinctions and titles under this Ordinance.
33. Whenever the Institute receives funds from any Government, the University Grants Commission or any other agency sponsoring a scheme to be executed by the Institute, notwithstanding anything in this Ordinance,—
(a) the amount received shall be kept by the Institute separately from the Fund of the Institute and utilised only for the purpose of the scheme;
(b) the staff required to execute the same shall be recruited in accordance with the terms and conditions stipulated by the sponsoring organisation:
Provided that any money remaining unutilised under clause (a) shall be transferred to the endowment fund created under section 22 of this Ordinance.