Section 37(2) in The Nalanda Open University Act, 1995
(2)(i)On receipt of the estimate under sub-section (1) it shall forthwith be referred by the Vice-Chancellor to the Finance Committee for scrutiny and report. Thereupon the Finance Committee shall scrutinise every item of the estimate and in particular the portion of the estimate relating to grants in-aid to the department or the study centre and submit along with a report to the Executive Council as may be prescribed by the Statutes.(ii)The Executive Council shall forthwith consider the estimate and the report of the Finance Committee and return the estimate to the department or the study centre for rectification of defects therein, if any.
