Assumption of financial control by the State Government as emergency measure

(v) transfer by sale, lease, mortgage or otherwise of immovable property; (vi) incur expenditure on any development work form the funds received form the State Government for any purposes other than for which the funds are received; (vii) taking for any decision regarding affiliated colleges resulting in increase of financial liability, direct or indirect, on the State Government. Explanation- The above conditions shall also apply in respect of the posts created from any other fund, which may in long term likely to cause financial implications to the State Government. 36. Assumption of financial control by the State Government as emergency measure.- (1) The State Government shall have the right to cause an inquiry to be made, by such person or persons as it may direct, and to issue directions to the University, in respect of any matter connected with the finances of the University, where State Government funds are concerned. (2) If the State government is satisfied that owing to mal-administration or financial mismanagement in the University a situation has arisen whereby financial stability of the University has become insecure, it may, by a notification, declare that the finances of the University shall be subject to the control of the State Government and shall issue such other directions as it may deem fit for the purpose and the same shall be binding on the University.