(1)The Chancellor, Vice-Chancellor, the members of the Senate, Executive Council and Academic Council of the University, and all persons who are deemed to be, or may hereafter be, appointed or elected as such officers or members, are hereby constituted and declared to be a body corporate by the name of "the University of Poona" and such body corporate shall have perpetual succession and a common seal, and may by that name sue and be sued.(2)The University shall be competent to acquire and hold property, both movable and immovable, to lease, sell or otherwise transfer or dispose of any movable or immovable property which may vest in, or be acquired by, it for the purpose of the University, and to contract and do all other things necessary for the purposes of this Act.
