Section 7(5) in The University Grants Commission (Regulation of Admission and Fees in Private Non-Aided Professional Institutions) Regulations, 1997
(5)No management of a professional institution shall, in the first ten years of its establishment, appropriate more than fifty per cent of the proceeds of the development fee levied or the actual capital cost, whichever is lower, for the recovery of the capital cost. The remaining amount shall be utilized for up-gradation and replacements in the said first ten years and, thereafter, the entire proceeds may be utilized for up-gradation and replacement purposes.
