A press release, signed by IU acting Registrar SM Abdul Latif, was issued in this regard on Wednesday.
Headed by IU accounting and information systems department Prof Selina Nashrin, the other members of the committee are information and communication technology department Prof Tapon Kumar Godder and law department Prof Reba Mondol.
Acting Registrar Latif told UNB that Vice-Chancellor Prof M Harun-Ur-Rashid Askari formed the probe body and asked it to submit its report within seven working days.
The VC told UNB that they will take legal action against the accused after receiving the probe report.
At least 20 people, including IU BCL unit General Secretary Rakibul Islam Rakib, were injured as two factions of BCL clashed on the IU campus on Tuesday.