section 42
Winding up of University
The Atal Bihari Vajpayee Skill University Sikkim Act, 2025Education202554 sections
Statutory text
- (1) If the Sponsoring Body proposes to dissolve itself according to the provisions of law, governing its constitution or incorporation; it shall record reasons thereof and give at least 5
- (five) years' prior notice to the State Government.
- (2) Notwithstanding, anything contained in the provisions of this Act, where the sponsoring body intends to wind up the University, the winding up process thereunder shall be as follows:
- (a) resolution to be passed by the Sponsoring Body that it intends to wind up and halt operations of the University; and
- (b) after the passage of the resolution as described in sub-section (2)
- (a) of Section 43, a notice will thereafter be issued by the Sponsoring Body to the Government, 5 years prior to cessation of operations; and
- (c) the Sponsoring Body shall halt intake of fresh admissions, upon passage of resolution under sub-section (2)(a) of Section 43, and issuance of notice under sub-section (2)(b) of Section 43; and
- (d) pursuant to which the Sponsoring Body/University upon completion of syllabus of the last batch of students admitted in the university; and in addition to the passage of 5 years since the notice period, the State Government shall thereafter make arrangements as may be necessary, for handing over the administration of the University for the purposes of completing the winding up process: Provided that, upon taking over of administration from the Sponsoring Body in the manner as provided for under clause
- (d) of sub-section
- (2) of Section 42, the State Government may appoint an administrator in place of the Sponsoring Body, who shall be entrusted with the powers, duties and functions of the Sponsoring Body, as prescribed under the Act.
- (3) Subject to the laws prevalentin the State of Sikkim, where upon the winding up of the University, there remains, after the satisfaction of all its debts and liabilities any property whatsoever, the same shall vest upon the Sponsoring Body: Provided that in the event of winding up of the University there remain any debts or liabilities exceeding the valuation of the movable and immovable properties of the University, the said outstanding debts and liabilities shall vest upon the Sponsoring Body.
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