Dissolution of University

The Sponsoring Body who intends to dissolve the University, shall give notice to the effect in the manner as prescribed under clause

1. (a) to clause
2. (d) of sub-section

1. (2) of Section 42 of the Act. Subject to the laws prevalent in the State of Sikkim, where upon the dissolution 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 dissolution of the University there remains, 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.