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 ow-cement and shall be classified as permanent endowment funds.
IV. Investment:— 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 humid 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, scaled and delivered \\fitness:
2 THE KOLKATA GAZETTE, EXTRAOR 1NARY, JANUARY 4, 2019 FORM B PROFORMA DEED OF PLEDGE OF SECURITY DEPOSIT (See rule 14) I. Sri/ Smt. , the Chancellor of the Seacom Skills University, being.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 Seacom Skills University, hereby, undertake that the University shall abide bv the provisions of the Seacom Skills University Act, 2014, in its true spirit and objectives;
2. That 1, being the Chancellor of the Seacom Skills University, hereby, undertake that the University shall abide by the Government instructions issued from time to time not inconsistent with the provisions of the Seacom Skills University Act, 2014;
3. That I, being the Chancellor of the Seacom Skills 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 Seacom Skills 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 Guanintec.
Given under my hand, sealed and delivered Witness:
2..
bv 0 e ...Tarn-neat of Hiuher Education (integrated Law Cell), Wes! P n 11 and printed ItS:,11,„\ 1 1,1d, ((ioverninent of West Benvl Friterprise), Kolizata 700 056.
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