Education minister Bratya Basu on Wednesday said that if government and government-aided colleges did not want to share details of fixed/term deposits and the source of funds for such deposits they were free not to.

When the department sought the details from the colleges on Friday, several heads of institutions wondered why the government was interested in information on deposits which, they contended, should remain restricted between the college and those who have helped raise funds.

On Tuesday, Basu said in response to a question: “If the colleges don’t wish to share such details, they are free to do so. The fund details have been sought to store the data in our higher education portal.”

“However, for the sake of transparency, they should share the data,” he added.

A platform of college principals resolved in a meeting on Monday they would first hold a meeting of the bodies that govern the colleges to discuss the notification seeking data.

“Since the governing body decides the financial management of a college, we can decide on providing such information following a discussion at the body’s regular meeting only,” said Syamalendu Chatterjee, president of the All Bengal Principals’ Council.

The department had asked the colleges to send the details by Tuesday.

The principals’ forum has sought more time through a petition to the department.

“Usually, state government-appointed auditors carried out audits to take stock of the financial health of the colleges. But the exercise has been put on hold over the past two years. We have urged the government to restore the process instead of asking the colleges to provide details on financial matters,” said a principal.