Page 183 - Compendium of UGC Regulations 1957-2023

Regulations on Establishment, Maintenance and Recognition of Institutions:

ii. Funds shall not be diverted at any time from the accounts of the Institution Deemed to
be University to any other accounts, including to the accounts of the Sponsoring body.
iii. The Institution Deemed to be University shall get its books of accounts audited, annually
and at such other frequency as shall be prescribed by the Commission, separately
published and uploaded on the website of the Institution; and if such institution is
funded by Central or State Government or through its agencies fully or partially, then
the accounts of such Institution Deemed to be University shall be open for examination
by the Controller and Auditor General of India; accounts of Institution Deemed to be
University shall also, where required, be open for inspection by the Commission.
iv. The annual financial statements and accounts shall be audited by a qualified professional,
being a Member or Fellow of the Institute of Chartered Accountants of India, to be
appointed by the Institution Deemed to be University.
Provided that, the Commission may, on receipt of information in regard to financial
impropriety or embezzlement or illegal diversion of funds from the accounts of the
Institution Deemed to be University; or of fees being collected against the provision
of the regulations, issue a notice directing the Institution Deemed to be University
to show cause as to why an inspection, including a forensic audit, not be ordered in
respect of the complaint, and after providing a reasonable opportunity to the respondent
institution, the Commission may on being satisfied that there were sufficient grounds
to proceed further, cause an inspection by a team of the Commission and also direct
a forensic audit to be undertaken by a qualified Member or Fellow of the Institute of
Chartered Accountants of India; the report of and the inspection team and the forensic
audit report taken together shall form the basis for the Commission to take further
action, as it may be Deemed fit, under these Regulations.

v. Annual Reports and the Audit Reports shall be submitted by the Institution Deemed to
be University to the Commission within nine months of the closure of the accounting
year.
19.0 Miscellaneous

i. The Institution Deemed to be University shall mention the name with location of
campus/off campus /off-shore campus/ constituent unit/Constituent institution on the
degree, diploma, certificate, or any other qualification awarded to students on its rolls.

ii. The Institution Deemed to be University shall, as soon as may be, after the completion
of the academic programme, and in no case later than 180 days from the date of such
completion, ensure that the degree, diploma, certificate, or any other qualification in
respect of the programme of studies, is awarded and made available to students.
iii. No Institution Deemed to be University shall at any time enter into any franchise
agreement or arrangement, either overtly or covertly, with any individual or organization
for establishing, maintaining or operating the off-Campus/off-shore campus/constituent
unit(s) / constituent institution/ course/ programme of study/ department/ school/
faculty of the Institution Deemed to be University.
iv. While every effort shall be made by the Government or the Commission, as the case may
be, in respect of disposal of applications received from Sponsoring bodies or Institution
Deemed to be University within the prescribed time limit, if any, such applications
shall not be Deemed to have been disposed off owing merely to the fact that such
time limit has been exceeded; the applicant shall, however, be at liberty to remind the
Government or the Commission, as the case may be.

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UGC Regulations