Section 102(5) in The Maharashtra Universities Act, 1994
(5)(a)The development and programme fund of the university shall consist of all infrastructure development grants received from the State Government, all contributions made by the University Grants Commission for development and research grants received from other funding agencies of the Central Government, United Nations and its affiliates, other international agencies, industry, banks and financial institutions or any person.(b)No amount from this fund shall be appropriate to any other fund of the university or expended for any other purposes;(c)the development and programme fund shall be utilised in the manner consistent with the object of the programmes for which a suitable code will be adopted to include the guidelines of the funding agency on expenditure and audit, to be granted and approved by the Management Council.
