"The university is very apologetic and takes moral responsibility (for the accident)... No amount can compensate for the damage," Pental told reporters here.
The radioactive source to the scrap was traced to that of the chemistry department laboratory of the university.
"The Atomic Energy Regulatory Board (AERB) has sent a team to investigate the matter after police revealed on Wednesday evening that the radioactive source in the scrap was from a gamma cell auctioned by the university's department of chemistry," Pental said.
The university has also set up a committee to probe the incident.
Pental said that its was assumed that the device would have become inactive after it had in storage for over 42 years.
"Our university has strong desire that this be investigated and recorded. Even for the future we must learn from this incident. Such accidents shouldn't happen even remotely," the vice chancellor said.