Section 40(3) in Bihar State Universities (Patna, University of Bihar, Bhagalpur and Ranchi) Act, 1960
(3)The Finance Committee shall prepare the annual estimates of income and expenditure of the University for the next ensuing financial year and shall, on or before such date as may be prescribed by the Statutes, forward the same together with a memorandum containing explanatory notes thereon to the Syndicate which may approve the estimate either without alteration or with such alterations as it thinks fit and the estimates so approved be the Syndicate shall be laid before the Senate at its annual meeting.
