Section 22 in The Nirma University of Science and Technology Act, 2003
22. Permanent Endowment Fund of University.
- The Trust shall place funds at the disposal of the University to be called the Permanent Endowment Fund of a sum of ten crores of rupees or a sum required for meeting the full operational expenditure of the University for three years, in long term interest bearing securities issued or guaranteed by the Central or State Government. On the termination of the involvement of the trust and after meeting the operational expenditure for three years, out of the Permanent Endowment Fund, it there is any unused balance that shall be paid back to the Trust.
