Section 15 in Dr. M.G.R. Medical University (Affiliation of Pharmacy Colleges) Statutes
15.
After a detailed examination of the report of inspection commission and if the University is fully satisfied as to the fulfilment of the conditions for the affiliation for the first year B. Pharm degree course of study, the University shall direct the management of the proposed Pharmacy college to remit a sum of Rs. 10,00,000 (Rupees ten lakhs only) towards the security deposit. The security deposit shall be invested in a fixed deposit of a Nationalized Bank jointly in the names of the Registrar of the University and the management of the proposed pharmacy college. The fixed deposit receipt shall be kept in the custody of the Registrar.
