State government to assume financial control in certain circumstances

(1) If the Slate Government is satisfied that owing to ~adrni.tli~~tio1; or financial mism-anagemcnt in the University a situation has arisen whereby financial stability of the University has become insecure, it may by notification, declare that the finances of the University shall be st;bject to the control ofihe State Government. (2) Every_notific~tion issued under_ sub-section (I) shail, in th'e fast instance,, remain in operation for a period-of one year from the date spe-cifi~d in thy notification and the State Q-ove~ent inay; from time to time,, by notification, -extend the pe_riod of operation-by such fuither period as it may~ fit, provided_ that the·total period of operation d~es not exc~ed thr~e years. (3) During the period of-the n~tification is;ued ~der sub-~ection (l}the executive authority of the State Government ~hall ex_tend to give directions to the. said University to observe such cannons of financial propriety as may be specified in the dirrction and to give such other directions as the State Government may deem necessary and ~dequate for the purpose. (4) Notwithstanding anythin·g contained in thjs Act, any such direction-may include:-(one) ;;t·provi~icm re_quiring·th~ sJ.ibTT?-i~siq~ of the buqgettq th~ S.tate -Govemmei)t for san~tion;-(two )a provision requiri~g the University.to submit every proposal involving financi~ implications to the State Government for sanction;-(tlu·ee)a provis·ion requfring the submission of every proposal for th~ revision of pay scale and rate of allowanc;es of the officers, teachers, and other persons employed by_the Uriiversity to-the State Goverrunent for the sanction;-(four)a provision requiring the deduction of salaries and ~lowances of all or' any class of persons ·employed by the_ University ;-(five) a provision requiring the deduction in the number of pos.ts o_f the· officers,_teachers and other persons employed by thdJniversit)[;-----(six) a p~oyisio.n requirin~ the lowering'downof s?·ales of pay l:lrld rate of allowances, and-(seYen) a provision in regard to such ~ther matt~rs as·~ ay h·w.-e tbe effect of reducing the financial strain ori the University. Provided that the Kuladhipati ma', if be considers it necessaI) so Lo do, appoint a committee consisting of an edur,ationist, and admfrtlsrrative expert and a fincincial _expert to assist Kulpati so appointed in exercise of such powers and performance· of such dutie_s. (5) Not~1Standing ~y tlung conta~i.ed in this Act.; it shall be binding oh every authority o~~he University and.every officerof the U~versity to give effect to the direction given under this section. (6) Every officer of the University s~all ·be pe;rsonally liable for misapplication of any fund or property of the U 1liver.3ity as a result of non-compliance of the direction give_n_under this _section to which he shail have been a party 01~ which shall have happened through or been facilitated by gross neglect of his duty as such officer, and the loss so inc~rred shall, on a certificate issued by.th~ Secretary, Higher Education be recovered from such officer as an arrears ofland revenue. Provided-that no action' to recover. the amount of loss as arrear of land revenue shall be taken l,111ti.l reasonable oppbrtunity;has-been given to the person. con~eme~ to furnish explanation and such explanation-has been considered by ·the State Gpveminent.