Each 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.
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Section 1 · Short title and commencement.Section 2 · Declaration of certain institutions as institutions of national importance.Section 3 · Definitions.Section 4 · Incorporation of Institutes.Section 5 · Effect of incorporation of Institutes.Section 6 · Objects of Institute.Section 7 · Powers and functions of Institute.Section 8 · Institute to be open to all races, creeds and classes.India Code, Government of India. Text fetched 24 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.