Dissolution of University

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

1. (a) and clause
2. (b) of sub-section

1. (2) of section 42 of the Act: Provided that in the event of dissolution of the University there remains, any debt or liabilities exceeding the valuation of moveable and immovable properties of the University, the said outstanding debts and liabilities shall vest upon the Sponsoring Body: Provided further that the dissolution of the University shall have effect only after the last batches of students of the regular courses have completed their courses and they have been awarded degrees, diplomas or, as the case may be, awards.