(1) The University shall within 30th August every year submit to the State Government 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. SHUKLA Additional Chief Secretary to the Governme fest Bei, (' Ti JI. KOLKATA GAZETTE, FXtRAORD1NARy, JANUARY 4, 2019 7 SCI 1 EDULE ENDOWMENT AGREEMENT (See rule 13) Sr1. il Salt. the Chancellor of the JIS University, being empowered by the sponsoring mist namely , vide its resolution dated (copy being part of this instrumcnt) do, hereby, make a fixed deposit of Rs. Ten Crones in Bank, vide No (description) out of the trust's funds, specifically for the purpose of establishment of an endowment i-or the use and benefit of the University,
1. Schedule aud Form of Contributions:— The trust .sponsored i he 'University in its meeting thited resolv es that isum 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 IS University Endowment Fund and will be kept invested until dissolution,' winding up of the University. The Trust 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.
11. Purpose:— JIS University ElldOWIllellt l'Ulld shall be a permanent endowment and shall be used for the benefit of the l..Miversity. 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.