Faculty at the Institute of Chemical Technology (ICT) in Matunga, Mumbai, have voiced their opposition to reports suggesting the institute may relinquish its 'deemed-to-be-university' status to access government funding. In a letter addressed to senior stakeholders, they expressed concerns that a shift to a state-controlled or hybrid governance model could compromise the institute's reputation and academic autonomy. The faculty highlighted that ICT's success is rooted in its independence, transparent governance, and merit-based decision-making. They fear that state alignment could weaken these strengths, particularly in faculty recruitment and academic policies. The letter also raised alarms about a potential reduction in the retirement age for faculty, which could affect teaching and mentorship for nearly 20% of the staff. Furthermore, faculty members questioned the impact of governance changes on ICT's growth and outreach plans. They argued that funding challenges should not solely be attributed to limited access to government schemes, advocating instead for improved institutional planning and alumni engagement to raise resources. The faculty called for the establishment of a dedicated fundraising committee and urged authorities to maintain ICT's deemed university status, recommending broader consultations before any final decisions are made.