Section 10 in The Indian Institutes of Information Technology (Publicprivate Partnership) Act 2017
Title: Institute to be a distinct legal entity not for profit
(1) Every Institute shall be a not-for-profit legal entity and no part of the surplus, if any, in revenue of such Institute, after meeting all expenditure in regard to its operations under this Act, shall be invested for any purpose other than for the growth and development of such Institute or for conducting research therein.
(2) Every Institute shall strive to raise funds for creation of a corpus for self-sufficiency, sustainability and future development of the Institute.
Title: Establishment of Institute by Central Government State Government and industry partners
(1) The State Government shall identify at least one industry partner, and preferably three industry partners, for collaboration and submit a proposal to the Central Government.
(2) The Central Government shall examine the proposal on the basis of such criteria, as may be prescribed, which shall include the following, namely:—
(a) the investment of capital required for establishing the proposed Institute to be borne by the Central Government, the concerned State Government and industry partners in the ratio 50:35:15 and recurring expenditure, as may be considered necessary during the first five years of operation, to be made available by the Central Government:
Provided that the ratio of investment of capital required for establishing the proposed Institute in North Eastern States shall be 57.5:35:7.5;
(b) the expertise and standing of the industry partners proposed in sub-section (1) in the field of information technology;
(c) the assessment of the capability, financial and other resources of industry partners to support the Institute;
(d) the suitability of adequate land, to the extent of fifty to hundred acres, to be provided by the State Government free of cost;
(e) the availability of, or the commitment of the State Government to make available, adequate physical infrastructure namely, water, electricity, road connectivity and security, at the proposed site.
(3) The Central Government may, with the concurrence of the concerned State Government, suggest modifications, if any, to the proposal submitted to it under sub-section (1).
(4) Where a proposal submitted by the State Government under sub-section (1) is not acceptable to the Central Government, the Central Government shall communicate its decision to that State Government, specifying the reasons for such decision.
(5) The Central Government shall, on acceptance of the proposal with modifications, if any, under sub-section (3) , enter into a memorandum of understanding or an agreement with the concerned State Government and the industry partners for the establishment of the proposed Institute.
(6) The industry partner shall—
(a) actively participate in the governance of the Institute within the overall framework;
(b) support and facilitate joint research projects with the Indian Institutes of Information Technology either through funding, collaboration or in any other manner;
(c) depute experienced individuals as adjunct faculty;
(d) encourage, enable, support and mentor students to do research project as a part of their course curriculum, within their enterprise;
(e) accept faculty members of the Indian Institutes of Information Technology on a sabbatical to work for short period with the industry;
(f) co-create programs as per the requirements of the industry with the Institution;
(g) provide internship to students of the Indian Institutes of Information Technology;
(h) facilitate for placement of students from the Indian Institutes of Information Technology;
(i) sponsor their eligible employees for doctorate studies in the Indian Institutes of Information Technology; and
(j) fund and mentor the startups in the Institution.
(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.
(1) The President of India shall be the Visitor of every Institute.
(2) The Visitor may appoint one or more persons to review the work and progress of any Institute and to hold inquiries into the affairs thereof and to report thereon in such manner as the Visitor may direct.
(3) Upon receipt of any such report, the Visitor may take such action and issue such directions as he considers necessary in respect of any of the matters dealt within the report and the Institute shall be bound to comply with such directions within a reasonable time.
Title: Authorities of Institute
The following shall be the authorities of an Institute, namely:—
(b) Board of Governors;
(d) Finance Committee;
(e) such other authorities or posts as may be declared by the Statutes to be the authorities of the Institute.
Title: Board of Governors
(1) The Board of Governors of each Institute shall be the principal policy making and executive body of the Institute.
(2) The Board shall consist of the following members, namely:—
(a) Chairperson, an eminent technologist or industrialist or educationist to be nominated by the Visitor on the recommendation of the Central Government;
(b) one nominee each of the Central Government and the concerned State Government;
(c) three eminent persons, of which at least one shall be a woman, appointed by the Board out of industry, research laboratories, and civil society, one from each category;
(d) two eminent academicians appointed by the Board;
(e) one nominee representing each of the industry partners:
Provided that if there are more than two industry partners then the number of representatives of industry partners at any time would be limited to two, chosen amongst themselves by rotation every two years;
(f) Director of an Indian Institute of Technology or a National Institute of Technology located in the region, to be nominated by the Board;
(g) two members from the faculty of the Institute, preferably one Professor and one Associate/Assistant Professor, to be nominated by the Senate;
(h) one person from the Scheduled Castes or the Scheduled Tribes distinguished in the field of education or industry or social service or public service, to be nominated by the Board, in case any of the above do not belong to the Scheduled Castes or the Scheduled Tribes; and
(i) Director of the Institute, ex officio.
(3) Registrar of the concerned Institute shall be the ex officio non-member Secretary of the Board.
(4) The First Board of Governors shall be notified by the Central Government by obtaining nominations under sub-section (2), other than the members referred to in clauses (c), (d), (f) and (h), which shall be decided in the first meeting of the Board of Governors.