If you do not submit the audit report on income and expenditure of private universities will be closed. A two-day University Grants Commission (UGC) will publish notice in this regard.
The deposit accounts of income and expenditure of private universities has shown extreme reluctance. In spending money that does not need to audit companies. In these circumstances, the UGC decided.
The UGC chairman Prof Abdul Mannan said, “Private University Act in accordance with the annual financial accounts to be submitted to the government. It is not meant to stop violating the university, members of the Board of Trustees will be brought to justice. The existing laws have provisions to punish both of them for money or even imprisonment. If necessary, the application of these provisions, we would recommend. “
However, private universities from the government audit report is dakhilasankranta violation of the law. Income is increasing day by day. They are taking money out of their own university.
But the institutions are not up to the minimum of the Finance Committee meeting. Income and expenditure audit (audit)’re not. I do not need to appoint a treasurer. That is, they have year after year. UGC has decided to rein promoting private universities such circumstances.