Section 29(3) in Madurai-Kamaraj University Act, 1965
(3)(i)The Syndicate shall, in the manner prescribed by the ordinances, prepare the financial estimates of the University and place the same before the Finance Committee.(ii)The Finance Committee shall then scrutinise the said estimates and may make such modifications therein as it considers necessary.(iii)The said estimates, as modified by the Finance Committee, shall then be laid before the Syndicate for consideration. The Syndicate may accept the modifications made by the Finance Committee and place the estimates as so modified before the Senate for approval or it may refuse to accept the modifications, in which case, it shall place before the Senate the estimates, the modifications made or the objections raised by the Finance Committee and the reasons for the non-acceptance. The Senate shall consider the estimates so laid before it and shall sanction the same either without modification or with such modifications as it thinks fit:Provided that the Senate shall not make any modifications in the estimates which have the effect of increasing the estimates of expenditure or reducing the estimates of income.
