Page 212 - Compendium of UGC Regulations 1957-2023

Regulations on Establishment, Maintenance and Recognition of Institutions:

(3) The institution deemed to be University shall get its books of accounts audited
annually, 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 Comptroller and Auditor General of India and the accounts of
institution deemed to be University shall also, where required, be open for inspection
by the Commission.
(4) The annual financial statements and accounts shall be audited by a qualified professional,
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 regarding 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 provisions
of these 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 or may direct
a forensic audit; 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 deem fit, under these regulations including the recommendation for withdrawal of
institution deemed to be University status, to the Government.

(5) Annual Reports, Annual Financial Statements, and Audit Reports shall be uploaded
on the institution deemed to be University website and also on the Commission’s
portal, after due approval by the Executive Council and the institution deemed to be
Universities managed or controlled or funded by the Central or State Government shall
submit a copy of the annual report, Annual Financial Statements and annual audit report
to the respective Government.
32. Miscellaneous.— (1) 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 one hundred and eighty
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.
(2) The institutions deemed to be Universities shall compulsorily create Academic Bank of
Credits (ABC), identities of their students and upload their credit scores in digital lockers
and ensure that the credit scores are reflected in ABC portal and adopt Samarth e-Gov.

(3) 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 organisation
for establishing, maintaining, or operating the off-campus or off-shore campus or
constituent units or course or programme of study or department or school or faculty of
the institution deemed to be University except in the following cases, namely:—
(a) the institution deemed to be University, which is eligible under sub-regulations
(1) and (2) of regulation 8 may enter into an agreement or arrangement, if—
(i) the establishment, maintenance, or operation of such institution is
permitted under any Act of Parliament or the rules or regulations made
there under; and

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University Grants Commission