Section 20. Finance Committee.

(1) The Finance Committee of each Institute shall consist of the following persons, namely:— (a) the Chairperson of the Board shall be the ex officio Chairperson of the Committee; (b) one representative of the Government of India, Ministry of Human Resource Development, Department of Higher Education handling the matters relating to finance, ex officio; (c) one representative of the State Government in which the Institute is located, ex officio; (d) one representative of the industry partners chosen from amongst themselves; (e) the Director, ex officio; and (f) the officer in-charge of finance and accounts of the Institute, ex officio Secretary. (2) The members of the Finance Committee other than ex officio members shall hold office for a term of three years.