(1) Subject to the provisions of this Act, the Board shall be responsible for the general superintendence, direction and control of the affairs of the Institute and shall exercise all the powers 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 Board shall—
         (a) take decisions on questions of policy relating to the administration and working of the Institute;
         (b) lay down policy regarding the duration of the courses, nomenclature of the degrees and other distinctions to be conferred by the Institute;
         (c) institute courses of study and to lay down standards of proficiency and other academic distinctions in respect of the courses offered by the Institute;
         (d) lay down policy regarding the cadre structure, qualification, the method of recruitment and conditions of service of the teaching and research faculty as well as other employees of the Institute;
         (e) guide resource mobilisation of the Institute and to lay down policies for investment;
         (f) consider and approve proposals for taking loans for purposes of the Institute with or without security of the property of the Institute;
         (g) frame Statutes and to alter, modify or rescind the same;
         (h) consider and pass resolutions on the annual report, the annual accounts and the budget estimates of the Institute for the next financial year as it thinks fit together with a statement of its development plans;
         (i) create academic, administrative, technical and other posts and to make appointments thereto and to provide avenues for their growth and development;
         (j) examine and approve the development plans of the Institute and the financial implications of such plans;
         (k) examine and approve the annual operation and capital budget estimates of Institute for the next financial year and to sanction expenditure within the limits of the approved budget;
         (l) receive gifts, grants, bequests, donations or benefactions and transfer of movable or immovable properties from the Central Government and the State Governments and from testators, donors, or transferors, as the case may be, and to have custody of the funds of the Institute;
         (m) fix, demand and receive fees and other charges;
         (n) to sue and defend all legal proceedings on behalf of the Institute; and
         (o) do all such things as may be necessary, incidental or conducive to the attainment of all or any of the aforesaid powers.
     (3) The Board shall have the 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 Board shall have the power to establish campus and academic centres at any place within or outside India:
     Provided that no campus or academic centre shall be established outside India without the prior approval of the Central Government.
     (5) Notwithstanding anything contained in section 4, the Board shall not dispose of in any manner, any immovable property of the Institute without prior approval of the Central Government.
     (6) The Board may, through a specific resolution to this effect, delegate any of its powers and duties to the President, Director, any officer or any authority of the Institute subject to reserving the right to review the action that may be taken under such delegated authority.