Section 22(xxiii) in The Calcutta University Act, 1979.
(xxiii)to acquire, hold and dispose of property, movable and immovable, and to administer all assets, properties and funds of the University, and to undertake all measures necessary or desirable for the conservation or augmentation of the resources of the University: Provided that for the purpose of disposing of any property valued at not less than one lakh of rupees previous approval of the Senate shall be necessary;
