Amendment of Section 34

34(1) If it appears to the Regulatory Commission that any of the directions issued by it to the university under the Adhiniyam has been violated or a situation of financial mismanagement and mal administration has arisen in the university, it shall issue notice requiring the university to show cause within 45 days as to why the notification in respect of such University under Sub-section (1) of Section 5 may not be cancelled. (2) If the Regulatory Commission on receipt of the reply of the university is satisfied that there is a prima facie case of mismanagement, mal administration or violation of any of the provisions of the Adhiniyam or directions issued thereunder, it shall recommend to the State Government for cancellation of its notification under sub-section (1) of Section 5 in respect of the University. (3) While canceling such a notification in respect of liquidation under sub-section (2), the State Government may direct the Regulatory Commission to assume the administration of the university till the end of current courses. (4) The Regulatory Commission during the period of management of the university under sub-section (3) shall use the funds available with the university and the surplus, if any, shall be forfeited.