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M’pur draft bill for private University establishment
Correspondent IMPHAL, JUNE 3:
Published on 4 Jun. 2011 12:11 AM IST
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Institute of Chartered Financial Analysts of India (ICFAI) would be establishing a self-financed Institution of Chartered Financial Analysts of India University in Manipur with 25 to 30 acres of land to be provided by the state government. To pave the way for establishment of the university, Manipur government has drafted a bill entitled “The Institute of Chartered Financial Analysts of India University (Manipur) Bill-2008”. The cabinet also gave assent for introduction in the Assembly for passing the bill in the summer session of the Assembly.
Manipur government drafted the bill after due consideration to the proposal made by ICFAI, a non profit trust established in 1984 at Hyderabad for establishment of the self-financed in Manipur. While submitting the proposal, the ICFAI expressed that they intent to invest around `30 crore for the infrastructure and create facilities in the state. ICFAI has plans to offer professional and job oriented programmes in science and technology, management, education, finance, etc. in the proposed university in consultation with the Manipur government. The proposed University will be run by a board of governors and management. The Governor of Manipur would be the visitor of the University, said an official asserting that an Act for ICFAI University needs to be enacted by the state Assembly to achieve this end.
The proposed ICFAI University will apply assistance in finding suitable land of 25-30 acres. Sikkim and Tripura have already established ICFAI Universities by state Acts, Meghalaya, Mizoram and Nagaland have also passed ICFAI University bills, the source said.
Once the bill is enacted, the sponsoring party will have the right to establish the University in accordance with the provisions of the Act. Government will give its consent for establishing the University after an inquiry as it may deem necessary, is satisfied that the sponsor has fulfilled the conditions specified in sub-section (2) of section 3, it may direct the sponsor, to establish an endowment fund.
After the establishment of the Endowment Fund, the state government may, by notification in the Official Gazette, accord sanction for establishment of the University, the source maintained.

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