(1) The University shall within 30th August every year submite 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. SHUKLA Additional Chief Secretaiy to the Government of Ihst Be al
PART I] THE KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 4, 2019 7
SCHEDULE FORM-A ENDOWMENT AGREEMENT (See rule 13) 1, Sri/ Smt. , the Chancellor of the Sister Nivedita 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. Ten Crores in Rank, vide No (description) out of the trust's funds, specifically for the purpose of establishment of an endowment for the use and benefit of the University.
I. 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 bank namely in the form of a long term fixed deposits in the name or 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 Sister Nivedita 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.
IL 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.
III. Administration:
The Sister Nivedita 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.
IV. Investment:— 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 be subject to the provisions of this agreement and shall be classified as permanent endowment funds.
V. Declaration:— I hereby further declare that I shall remain hound and accountable to place the whole endowment fund lo the Administrator as may be appointed by the State Government during the dissolution of the University.
Given under my hand, sealed and delivered Witness:
1.
TIIE KOLKATA GAZETTE, EXTRAORDINARY, JANUARY 4, 2019 PART I FORM-B PROFORMA DEED OF PLEDGE OF SECURITY DEPOSIT (See rule 14) Sri/ Smt. , the Chancellor of the Sister Nivedita 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 Sister Nivedita University, hereby, undertake that the University shall abide by the provisions of the Sister Nivedita University Act, 2017, in its true spirit and objectives:
2. That 1, being the Chancellor of the Sister Nivedita. University, hereby, undertake that the University shall abide by the Government instructions issued from time to time not inconsistent with the provisions of the Sister Nivedita University Act, 2017;
3. That I, being the Chancellor of the Sister Nivedita 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 Sister Nivedita 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 .
Published by the Department of Higher Education (Integrated Law Cell), West Bengal and printed at Saraswa,v ((iovernment of West Bengal Enterprise), Kolkata 700 056.
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