The Endowment Fund shall be administered by the Sponsoring trust. 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 trust in future, shall he subject to the provisions of this agreement and shall be classified as permanent endowment funds.
IV. Investment, Payout and Reinvestment:— The 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 University Given under my hand, sealed and delivered Witness:
THE. KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 4, 2019 [PART t FORM-B PROFORMA DEED OF PLEDGE OF SECURITY DEPO, (See rule 14) Amity University, , 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 trustisocietylcompany funds, and the same is hereby pledge along with the Bank Guarantee (being part of this instrument) in the name of the State Government in the Department of Higher Education, Science & Technology and Biotechnology, on this day of , 2018 on the following terms and conditions:— I That I, being the Chancellor of the Neotia University, hereby, undertake that the University shall abide by the provisions of the Neotia University Act, 2014, in its true spirit and objectives;
2. That I. being the Chancellor of the Neotia University, hereby, undertake that the University shall abide by the Government instructions issued from time to time not inconsistent with the provisions of the Neotia University Act, 2014;
3. That I, being the Chancellor of the Neotia 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 Neotia 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:
I, Sri/ Sint. ,the Chancellor of the being empowered by the sponsoring trust/society/company namely Published by the Department of Higher Education (Integrated I ay., Cell), \Vest Bengal and printed at Saraswaty Press Ltd.
(Government of West Bengal Enterprise), Kolkata 70(1 056.
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