(1) Subject to the provisions of this Act, every Institute shall exercise the following powers and perform the following duties, namely:--
(a) to provide for instruction and research in such branches of engineering and technology, management, education, sciences and arts, as the Institute may think fit, and for the advancement of learning and dissemination of knowledge in such branches;
(b) to hold examinations and grant degrees, diplomas and other academic distinctions or titles;
(c) to confer honorary degrees or other distinctions;
(d) to fix, demand and receive fees and other charges;
(e) to establish, maintain and manage halls and hostels for the residence of students;
(f) to supervise and control the residence and regulate the discipline of students of the Institute and to make arrangements for promoting their health, general welfare and cultural and corporate life;
(g) to provide for the maintenance of units of the National Cadet Corps for the students of the Institute;
(h) to institute academic and other posts with the prior approval of the Central Government, and to make appointments thereto excluding the Director ***;
(i) to frame Statutes and Ordinances and to alter, modify or rescind the same;
(j) to deal with any property belonging to or vested in the institute in such manner as the Institute may deem fit for advancing the objects of the Institute;
(k) to receive gifts, grants, donations or benefactions from the Government and to receive bequests, donations and transfers of movable or immovable properties from testators, donors or transferors, as the case may be;
(l) to co-operate with educational or other institutions in any part of the world having objects wholly or partly similar to those of the Institute by exchange of teachers and scholars and generally in such manner as may be conducive to their common objects;
(m) to institute and award fellowships, scholarships, exhibitions, prizes and medals;
(n) to undertake consultancy in the areas or disciplines relating to the Institute; and
(o) to do all such things as may be necessary, incidental or conducive to the attainment of all or any of the objects of the Institute.
(2) Notwithstanding anything contained in sub-section (1), an Institute shall not dispose of in any manner any immovable property without the prior approval of the Central Government.