Page 59 - Compendium of UGC Regulations 1957-2023

Regulations on Establishment, Maintenance and Recognition of Institutions:

other institution run by the Association, the same shall be refunded by the Association without
demur to the Commission on demand. The decision of the Commission as to the misuse of
the amount of grant and as to the quantum of the amount payable by the Association shall be
final and binding on the Association.

2. The Association further covenants with the Commission that the Association shall furnish to
the Commission the balance sheet of the Association every year alongwith the annual audited
Accounts of the said College managed or run by the said Association. The said Balance Sheet
and the Annual Accounts will be sent to the Commission within two weeks from the passing
thereof by the Association and in any event before the closing of the financial year of the
Association.
3. The Association hereby agrees to indemnify and keep indemnified the Commission against
any loss that the Commission may suffer on account of the improper or misuse of the grant or
any part thereof made by the said Commission to the said College or on account of non-use
of the said grant for the said college.

In witness whereof ___________________________ of the society for and on
behalf of the society pursuant to the resolution of the Governing body of the
Association___________________________________ passed on _________ has put its hand
and seal the day month and year herein above mentioned.

This bond is executed on this _____________ day of_______ year _______ in terms of
resolution No._________ dated (copy enclosed) passed by the Governing Body of____________
________________________.

Name :___________________________

Designation :___________________________

Seal of :___________________________
Witness of

1. ______________________________
2. ______________________________

(For office use only)

Accepted for and on behalf of the University Grants Commission by:-
Name ______________________________

Designation ______________________________

In witness 1. ______________________________

2. ______________________________

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UGC Regulations