Self-finance colleges to lose deposits on closure

Updated on: Tuesday, October 13, 2009

Ahmedabad: The Gujarat University syndicate has decided in its meeting held here on Sunday that if a self-finance college decides to close the institution, then it will have to forfeit its deposit of Rs 12 lakh.

This has come as a major blow to eight BEd colleges in the city which had sought permission from Gujarat University to close down, citing lack of students as the reason. Students of Urvi BEd College in Vasana, which was granted permission on Sunday to close down, will in all likelihood be moved to the grant-in-aid colleges.

The syndicate also decided to collect an annual fee of Rs 5 lakh from self-finance commerce colleges which have over 1000 students and Rs 2.50 lakh from self-finance colleges that conduct BBA and BCA courses.

It was also decided at the meeting that the interest amount would be kept by the university which earlier used to be returned to the colleges at the time of fee collection. A self-finance college prior to being set up has to deposit between Rs 5 lakh to Rs 12 lakh to the university. The university used to earn annual interest on the deposits which later it used to return to the respective colleges.

The syndicate also decided to crack down on those colleges that were involved in collecting unjustified fees from the students. A committee would be set up to investigate the allegations and take punitive measures.

The syndicate also warned against the practice of colleges to resume their operation after having formally closed down. In future, even if any such college obtains permission from All India Council For Technical Education or National Council For Teachers' Education, the Gujarat University will not give it the permission to start,' said vice-chancellor Parimal Trivedi.

Self-finance colleges to lose deposits on closure

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