Section 11(7) in The Indian Institutes of Information Technology (Public-Private Partnership) Act, 2017
(7)Every memorandum of understanding or agreement referred to in sub-section (5) shall contain-(a)the investment proposal of capital in establishment of the Institute and the respective shares as may be prescribed;(b)the first Statutes of the Institute;(c)the commitment of the Central Government, the concerned State Government, and the industry partner in ensuring autonomy to the proposed Institute; and(d)the conditions, if the industry partners pulls out.
