Repeal and savings.

(1) All properties, movable and immovable and all the interests of whatsoever nature and kind therein, vested in the Y.M.C.A. Institute of Engineering, Faridabad and the courses run thereunder and all the posts created and filled and the whole staff of officers and officials working in the said institute, before the commencement of this Act, shall vest in the University. (2) All debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done in respect of Y.M.C.A. Institute of Engineering, Faridabad shall be deemed to have been incurred, entered into, or engaged to be done by, with or for the University.