Thelndowment Fund shall be administered by the Sponsoring trust. The Endowment Fund shall never become the part olthe University fund: These funds and all future earning to the endowment, including those made by the sponsoring trust in future, shall be subject to the provisions of this agreement and shall be classified as permanent endowment funds.
IV. Investment:— 'Hie Chancellor acknowledges and agrees that in connection with administration and management of the endowment funds, the sponsoring trust may charge certain expenses against the endowment funds for administration, management.
and similar charges.
V Declaration: — I do 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 tiniversity Given under my hand, sealed and delivered • Witness:
1.
Ii KO ATA GAZETIF, , jR_DINARY, JANUARY 4, 2019 1PARr I FORM-B FOR2 ' PLEDGE OF SECURITY DEPOSIT (See rule 14) 1, Sri/ Smt. , the Chancellor of the JIS University, being, empowered by the sponsoring trust namely , vide its resolution dated (copy being pi.ft o t this insh wuent) 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 Ifigher Education, on this day of , 2018 on the following terms and conditions:-
1. That I, being the Chancellor of the JIS University, hereby, undertake that the University shall abide by the provisions of the JIS University Act. 2014, in its true spirit and objectives;
That I, being the Chancellor olthe i iS University, hereby, undertake that the University shall abide by the Government instructions issued from time to time not inconsistent with the provisions of the IN University Act, 2014;
3. That. I. being the Chancellor of the JIS University, hereby, pledge the Bank Guarantee (Description) of Rs. 1.00 Crore which is fixed as a long tel deposit in Bank at Branch vide (Description) in laN!or 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 31S University Act. 2014 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, sealed and delivered Witness:
Published by the Department of Higher Education (Intqiratcd Law Cell). West Bcnv.,a1 and printed at Szraswaty Press Ltd.
(Ciovernment of 'West Bengal Enterprise), Kolkuta 700 056.
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