State Government to assume financial control in certain circumstances

Education201164 sections

Statutory text

(1) If the State Government is satisfied that owing to mal-administration or financial mismanagement in the Vishwavidyalaya, a situation has arisen where by financial stability of the Vishwavidyalaya has become insecure, it may by notification, declare that the finances of the Vishwavidyalaya shall be subject to the control of the State Government.
(2) Every notification issued under sub-section (1) shall, in the first instance, remain in operation for a period of one year from the date specified in the notification and the State Government may, from time to time, by a like notification, extend the period of operation by such further period as it may think fit, provided that the total period of operation does not exceed three years.
(3) During the period of operation of the notification issued under sub-section (1), the executive authority of the State Government shall extend to the giving of directions to the said Vishwavidyalaya to observe such cannons of financial propriety as may be specified in the direction and to the giving of such other directions as the State Government may deem necessary and adequate for the purpose.

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