(1) Subject to the provisions of this Act, the Governing Council shall be responsible for the general superintendence, direction and control of the affairs of the Institute and shall exercise all the powers of the Institute not otherwise provided for by this Act, the Statutes and the Ordinances, and shall have the power to review the acts of the Senate.
     (2) Without prejudice to the provisions of sub-section (1), the Governing Council shall––
         (a) take decisions on questions of policy relating to the administration and working of the Institute;
         (b) take decision on the establishment of new Institute campus at any place in India or outside India;
         (c) institute courses of study at the Institute;
         (d) institute academic and other posts and to make appointments thereto;
         (e) make Statutes;
         (f) consider and modify or cancel Ordinances;
         (g) consider and pass resolutions on the annual report, the annual accounts and the budget estimates of the Institute including each of the Institute campuses for the next financial year, as it thinks fit and submit them to the Central Government together with a statement of its development plans; and
         (h) exercise such other powers and perform such other duties as may be conferred or imposed upon it by this Act or the Statutes.
     (3) The Governing Council shall have power to appoint such committees as it considers necessary for the exercise of its powers and the performance of its duties under this Act.
     (4) The Governing Council shall have the power to enter into arrangements with the Central Government, State Governments and other public or private organisations or individuals in India or outside India for securing and accepting endowments, grants, donations or gifts to the Institute on mutually agreed terms and conditions:
     Provided that the conditions of such grant, donation or gift, if any, shall not be inconsistent or in conflict with the nature or objects of the Institute and the provisions of this Act.
     (5) The Governing Council shall have the power to take over and acquire by purchase, gift or otherwise from Government and other public bodies or private individuals willing to transfer movable and immovable properties, endowments or other funds together with any attendant obligations and engagements not inconsistent with the provisions of this Act.
     (6) The Governing Council may by specific resolution to this effect delegate to the Chairperson such of its powers for the conduct of business, as it may deem necessary.