Section 1
1.
Schedule and Form of Contributions:—
The trust sponsored die University in its meeting dated
resolves that a sum of Rs. Ten Crores will be
placed in a nationalized bank namely
in the form of a long term fixed deposits in the name of
the University out of its own fund accumulated from its income as reflected in the last years balance sheet of the trust
furnished to the Income Tax Department along with its Annual Return and Audit Report. The Fund will be known as the
Neutia University Endowment Fund and will he kept invested until dissolution/ winding up of the 'University. The Trust
further resolved that the Fund will never be removed from the above mentioned bank unless the bank is going into
liquidation or otherwise closed. It is also resolved that the interest proceeds of the fund shall only be used for the
development of the University.
H.
Purpose:—
The Neotia University Endowment Fund shall he a permanent endowment and shall be used for the benefit of the
University. The purpose of the fund is actually to secure the smooth functioning of the University during winding up
procedure. The fund guarantees the student of the University that there should not be sudden closure of the University
tor which the future of the student may be jeopardized,
Roop's Law Assist