25. Grants by Central Government.—The Central Government may, after due appropriation made
by Parliament by law in this behalf, pay to the Institute in each financial year such sums of money and in
such manner as it may think fit for being utilised for the purposes of this Act.
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26. Fund of Institute.—(1) The Institute shall maintain a Fund to which shall be credited—
(a) all monies provided by the Central Government;
(b) all fees and other charges levied and collected by the Institute;
(c) all monies received by the Institute by way of grants, gifts, donations, benefactions, bequests
or transfers; and
(d) all monies received by the Institute in any other manner or from any other source.
(2) All monies credited to the Fund shall be deposited in such banks or invested in such manner as
may be decided by the Executive Council.
(3) The Fund shall be applied towards meeting the expenses of the Institute including expenses
incurred in the exercise of its powers and discharge of its duties under this Act.
27. Endowment or other funds.—Without prejudice to the provisions contained in section 26, the
Institute may,—
(a) set up an endowment fund with an amount of one hundred crore rupees to be maintained in
the Public Account and any other fund for a specified purpose; and
(b) transfer monies from its fund to the endowment fund or any other fund.
28. Accounts and audit.—(1) The Institute shall maintain proper accounts and other relevant records
and prepare an annual statement of accounts, including the balance sheet, in such form as may be
prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.
(2) The accounts of the Institute shall be audited by the Comptroller and Auditor-General of
India and any expenditure incurred by him in connection with such audit shall be payable by the Institute
to the Comptroller and Auditor-General of India.
(3) The Comptroller and Auditor-General of India and any person appointed by him in connection
with the audit of the accounts of the Institute shall have the same rights, privileges and authority in
connection with such audit as the Comptroller and Auditor-General of India has in connection with the
audit of the Government accounts, and, in particular, shall have the right to demand the production of
books, accounts, connected vouchers and other documents and papers and to inspect the offices of the
Institute.
(4) The accounts of the Institute as certified by the Comptroller and Auditor-General of India or
any other person appointed by him in this behalf together with the audit report thereon shall be forwarded
annually to the Central Government and the Central Government shall cause the same to be laid before
each House of Parliament.
29. Pension and provident fund.—(1) The Institute shall constitute for the benefits of its employees,
including the Director, such pension, insurance and provident fund scheme as it may deem fit, in such
manner and subject to such conditions as may be provided by the Statutes.
(2) Where any such provident fund has been so constituted, the Central Government may declare that
the provisions of the Provident Funds Act, 1925 (19 of 1925) shall apply to such fund as if it were a
Government Provident Fund.
30. Appointment of staff of Institute.—All appointments of the staff of the Institute, except that of
the Director, shall be made with the prior approval of the Central Government and in accordance with the
procedure laid down in the Statutes,—
(a) by the Executive Council, if the appointment is made on the academic staff in the post of
Assistant Professor or above or if the appointment is made on the non-academic staff in any cadre, the
maximum of the pay-scale for which is the same or higher than that of an Assistant Professor; and
(b) by the Director, in any other case.
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31. Power to make Statutes.—Subject to the provisions of this Act, the Statutes may provide for all
or any of the following matters, namely:—
(a) the formation of departments of teaching and other academic units;
(b) the institution of fellowships, scholarships, exhibitions, medals and prizes;
(c) the classification of posts, terms of office, method of appointment, powers and duties and
other terms and conditions of service of the officers of the Institute including the Chairperson, the
Director, the Registrar and such other officers as may be declared as officers of the Institute by the
Statutes;
(d) the constitution, powers and duties of the authorities of the Institute referred in clause (c) of
section 11;
(e) the delegation of powers vested in the authorities or officers of the Institute;
(f) the code of conduct, disciplinary actions thereto for misconduct including removal from
service of employees on account of misconduct and the procedure for appeal against the actions of an
officer or authority of the Institute;
(g) the conferment of honorary degrees;
(h) the establishment and maintenance of halls, residences and hostels;
(i) the authentication of the orders and decisions of the Executive Council;
(j) any other matter which by this Act is to be, or may be, provided by the Statutes.
32. Statutes how to be made.—(1) The first Statutes of the Institute shall be framed by the Central
Government with the approval of the Visitor, and a copy of the same shall be laid as soon as may be, after
it is made, before each House of Parliament.
(2)Without prejudice to the provisions contained in sub-section (1), the Executive Council may, from
time to time, make new or additional Statutes or may amend or repeal the Statutes in the manner hereafter
in this section provided.
(3) A new Statute or addition to the Statutes or any amendment or repeal of a Statute shall require the
previous approval of the Visitor who may assent thereto or withhold such assent or remit it to the
Executive Council for consideration.
(4) A new Statute or a Statute amending or repealing an existing Statute shall have no validity unless
it has been assented to by the Visitor.
33. Power to make Ordinances.—Subject to the provisions of this Act and the Statutes, the
Ordinances of the Institute may provide for all or any of the following matters, namely:—
(a) the admission of the students to the Institute;
(b) the reservation in admission to various courses or programmes of the Institute for the
Scheduled Castes, the Scheduled Tribes and other categories of persons;
(c) the courses of study to be laid down for all degrees, diplomas and certificates awarded by the
Institute;
(d) the conditions under which students shall be admitted to the degree, diploma and certificate
courses and to the examinations of the Institute and the eligibility conditions for awarding the same;
(e) the conditions of award of fellowships, scholarships, exhibitions, medals and prizes;
(f) the conditions and manner of appointment and duties of examining bodies, examiners and
moderators;
(g) the conduct of examinations;
(h) the maintenance of discipline among the students of the Institute;
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(i) the fees to be charged for courses of study in the Institute and for admission to the
examinations of degrees of the Institute;
(j) the conditions of residence of students of the Institute and the levying of the fees for residence
in the halls and hostels and of other charges; and
(k) any other matter which by this Act or the Statute is to be, or may be, provided by the
Ordinances.
34. Ordinances how to be made.—(1) Save as otherwise provided in this section, Ordinances shall
be made by the Academic Council.
(2) All Ordinances made by the Academic Council shall have effect from such date as it may direct,
but every Ordinance so made shall be submitted, as soon as may be, to the Executive Council and shall be
considered by the Executive Council at its next succeeding meeting.
(3) The Executive Council shall have power by resolution to modify or cancel any such Ordinance
and such Ordinance shall from the date of such resolution stand modified accordingly or cancelled, as the
case may be.
35. Conduct of business by authorities of Institute.—The authorities of the Institute may have their
own rules of procedure, consistent with the provisions of this Act, the Statutes and the Ordinances for the
conduct of their own business and that of the committees, if any, appointed by them and not provided for
by this Act, the Statutes or the Ordinances.
36. Tribunal of Arbitration.—(1) Any dispute arising out of a contract between the Institute and any
of its employees shall, at the request of the employee concerned or at the instance of the Institute, be
referred to a Tribunal of Arbitration consisting of one member appointed by the Institute, one member
nominated by the employee, and an umpire appointed by the Visitor.
(2) The decision of the Tribunal shall be final and shall not be questioned in any court.
(3) No suit or proceeding shall lie in any court in respect of any matter, which is required by
sub-section (1) to be referred to the Tribunal of Arbitration.
(4) The Tribunal of Arbitration shall have power to regulate its own procedure.
(5) Nothing contained in any law for the time being in force relating to arbitration shall apply to
arbitrations under this section.