Intergrated with Panjab University
In 1957, the Panjab University decided that the Sanskrit Department should be run, conjointly, with the Institute at Hoshiarpur. Somehow, the University could not, then, implement the decision. However, at the suggestion of the University itself, the Institute started in 1959, its own Post-graduate Sanskrit Teaching Department, towards which the University conferred upon the Institute the status of an Affiliated College. The Kurukshetra University also initiated in 1959, its proposal that even though the Institute might remain at Hoshiarpur as it insisted that it must, it would become a part of that University. On account of certain legal difficulty which could not be overcome, the continuous efforts of that University in this behalf, however, did not succeed. In the beginning of 1965, the Panjab University made a similar proposal, namely, that the Institute, while continuing to function at Hoshiarpur, should integrate itself with that University, and that the said university should become responsible for the financial arrangement towards the maintenance and development of the Institute as its Main Centre for Sanskrit and Indological Studies. This proposal was finally accepted by the University on 25-4-1965 and formally sanctioned by the University on 30-6-1965, to become effective from 1-7-1965.
In pursuance of the above decision, a new Institution of the Panjab University was formed under the name Vishveshvaranand Institute of Sanskrit and Indological Studies (V.I.S. & I.S), which comprises the V.V.R.I. Sections of (1) Post-Graduate and Traditional Sanskrit Teaching, (2) Preparation and Publication of the Dictionary Project entitled " A Comparative and Critical Dictionary of Vedic Interpretation", a Specimen of which was prepared and duly issued jointly by Acharya Dr. Vishva Bandhu and Prof. S. Bhaskaran Nair, (3) Publication of Vishveshvarnand Indological Journal and (4) the Library. The residual sections of the V.V.R.I. comprising the Departments of (1) Hindi Teaching, (2) Hindi and Punjabi Research, (3) Cultural Publications, (4) Three Journals, viz. Vishva-jyoti, Vishva-Samskritam and V.V.R.I. Research Bulletin, (5) Indological Research including the academic activities of Dr. Ludwik Sternbach Foundation, (6) Research Publications relating to the above. (7) Vishveshvaranand Book-Agency, and (8) V.V.R.I. Press, constitute the V.V.R Institute. Under the over-all control of the Senate and the Syndicate, the affairs of V.I.S. & I.S. are to be managed by a Special Board of Control consisting of eight members. The Vice-Chancellor is the ex-officio Chairman and the Director of the Institute, an ex-officio Member of this Board. Out of the remaining six-members, three are to be nominated by the University and three by the V.V.R.I. Society. One of the latter nominees having to be appointed as Vice-Chairman. Acharya Dr. Vishva Bandhu, remained Honorary Director of both the Institutes. After the demise of Acharya Dr. Vishva Bandhu on 1.8.1973, the Panjab University re-named the aforesaid V.I.S. & I.S. as "Vishveshvaranand Vishva Bandhu Institute of Sanskrit and Indological Studies (V.V.B.I.S. & I.S.)" in recognition of the services rendered by Shri Acharya Ji to the Institute.
Association with D.A.V College Management Society
In a special meeting of the Institute Society held on 31st December, 1978, a resolution was moved to associate the Institute with the D.A.V. College Trust and Management Society and after having been discussed by the representatives of both the sides, it was finalised on 16th April, 1982. In accordance with this resolution, the V.V.R. Institute working as independent in its internal administrative, financial and academic affairs, since then, has become a part of the D.A.V. Organisation.