Section 8
Institutes to be not-for-profit legal entity.
The National Institutes of Food Technology, Entrepreneurship and Management Act, 2021.
About this Act
An Act to declare certain institutions of Food Technology, Entrepreneurship and Management to be the institutions of national importance and to provide for instructions and research in food technology, entrepreneurship and management and for the advancement of learning and dissemination of knowledge in such branches and for matters connected therewith or incidental thereto.
(1) Each Institute shall be a not-for-profit legal entity
and no part of the surplus, if any, in revenue of the Institute, after meeting all expenditures in regard to its
operations under this Act, shall be invested for any purpose other than for the growth and development of
the Institute or for conducting research therein.
(2) Each Institute shall strive to raise funds for self-sufficiency and sustainability.
(2) Each Institute shall strive to raise funds for self-sufficiency and sustainability.