Section 10 — Institute to be a distinct legal entity not-for-profit.
The Indian Institutes of Information Technology (Public-private Partnership) Act, 2017
(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.Open in Lexace · Ask the AI about this section