DAVV Centralised UTD Bank Accounts

Devi Ahilya Vishwa Vidhyalay Indore moves to centralise bank accounts of all its teaching departments. They have stoked a potential legal controversy as one of its most ‘earning’departments— International Institute of Professional Studies ( IIPS) — is under Madhya Pradesh Societies Registration Act, 1973 and its money can’t be claimed by any individual or organisation.

The institute on the UTD campus is registered with firms and societies as IIPS Society on October 23, 1996.

With the registration, the IIPS is supposed to follow the bylaws of the Act. According to one of the by- laws, the money earned by the institute would be spent on its development and expansion. The money meant for the institute can not be transferred to any individual or organization without proper permission from the competent authority.

The institute has not only been asked to surrender its FDs to the registrar and transfer its cash to the registrars account but its students have been directed to now submit fee to the university and not the institute.

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