(1) The University shall within 30th August every year submit to the State Government an Annual Report regarding the working of the University.
(2) The annual report shall interalia contain the academic and administrative detail of the University.
(3) No Annual report shall be accepted unless the same is accompanied with the resolution of the Governing Board to the effect that the annual report is placed in the Governing Board and passed unanimously.
By order of the Governor, DR. R. S. SH.UKLA Additional Chief Secretary to the Government of West' Bengal THE KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 4, 2019
SCHEDULE FORM-A ENDOWMENT AGREEMENT (See rule 13) I. Sri/ Smt. , the Chancellor of the Brainwarc University, being empowered by the sponsoring trust namely part of this instrument) do, 'vide No endowment for the use and
1. Schedule and Form of Contributions:— The trust sponsored the University in its meeting dated resolves that a sum of Rs. Ten Crores will be placed in a nationalized hank namely in the form of a long term fixed deposits in the name of the University out of its own fund accumulated from its income as reflected in the last years balance sheet of the trust furnished to the Income Tax Department along with its Annual Return and Audit Report. The Fund will be known as the Brainware University Endowment Fund and will be kept invested until dissolution/ winding up of the University. The Society further resolved that the Fund will never be removed from the above mentioned bank unless the bank is going into liquidation or otherwise closed. It is also resolved that the interest proceeds of the fund shall only be used for the development of the University.
II. Purpose:— The Brainware University Endowment Fund shall be a permanent endowment and shall be used for the benefit of the University. The purpose of the fund is actually to secure the smooth functioning of the University during winding up procedure. The fund guarantees the student of the University that there should not be sudden closure of the University for which the future of the student may be jeopardized.
Ill. Administration:— The Endowment Fund shall be administered by the Sponsoring society. The Endowment Fund shall never become the part of the University fund. These funds and all, future earning to the endowment, including those made by the sponsoring society in future, shall be subject to the provisions of this agreement and shall be elassirled as permanent endowment funds.
IV. Investment:— The Chancellor acknowledges and agrees that in connection with administration and management of the endowment funds, the sponsoring society may charge certain expenses against the endowment funds fur administration, management.
and similar charges.
V. Declaration:— I hereby further declare that I shall remain bound and accountable to place the whole endowment fund to the Administrator as may be appointed by the State Government during the dissolution of the University.
Given under my hand, sealed and delivered , vide its resolution dated (copy being hereby, make a fixed deposit of Rs. Ten Crores in Bank, (description) out of the trust's funds, specifically for the purpose of establishment of an benefit of the University.
Witness:
. 2.
THE KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 4, 2019 I,PART FORM-8 PROFORMA DEED OF PLEDGE OF SECURITYDEPOSIT (See rule 14) I, Sri/ Smt.
empowered by the sponsoring trust namely vide its resolution dated (copy being part of this instrument) do, hereby, make a fixed deposit of Rs. One Crore in Bank, vide No _ (description) out of the trust funds, and the same is hereby pledged along with the Bank Guarantee (being part of this instrument) in the name of the State Government in the Department of Higher Education on this day of 2018 on the following terms and conditions:-
1. That I, being the Chancellor of the Brainware University, hereby, undertake that the University shall abide by the provisions of the Brainware University Act, 2015, in its true spirit and objectives;
2. That I, being the Chancellor of the Brainware University, hereby, undertake that the University shall abide by the Government instructions issued from time to time not inconsistent with the provisions of the Brainware University Act, 2015:
3. That 1, being the Chancellor of the Brainware University, hereby, pledge the Bank Guarantee (Description) of Rs.
1.00 Crore which is fixed as a long term deposit in Bank at Branch vide (Description) in favor of the State Government in the Department of Higher Education and hereby undertake that in the event of any breach or violation of any provisions of the Brainware University Act, 2015 the State Government may forfeit the said sum of Rs. 1.00 Crore at one time or in installments on the strength of the above mentioned Bank Guarantee.
Given under my hand, scaled and delivered Witness:
1.
2.
, the Chancellor of the Brainware University. being Published by the Department of Higher Education (Inteizratcci Law Cell), West Bengal and printed at Saraswaty Press Ltd.
((Iovernment of West Bengal Friterprise), K.olkata 700 056.
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