Dissolution of the University

(1) If the Sponsoring Body proposes dissolution of the University in accordance with the law governing its constitution or incorporation, it shall give at least 12 (twelve) months' notice in writing to the State Government and it shall ensure that no new admissions to the University are accepted during the notice period. All financial obligations, whatsoever may be, for dissolution of the University shall lie with the University. (2) Notwithstanding anything contained under sub section (1) above, the State Government may initiate dissolution of the University suomoto, after it is satisfied that the sponsoring body has failed to adhere to the established norms. (3) The manner of winding up of the University would be such as may be prescribed in this behalf by the State Government: Provided that no such action will be initiated without affording a reasonable opportunity to show cause to the Sponsoring Body. (4) On receipt of the notice referred to in sub-section (1), or action initiated vide sub-section (2) the State Government shall, in consultation with the UGC make such arrangements for administration of the University from the proposed date of dissolution of the University by the Sponsoring Body and until the last batch of students in regular courses of studies of the University complete their courses of studies in such manner as may be prescribed by the Statutes. (5) Under no circumstances the State Government will be liable to bear any financial burden of any kind during the period of dissolution.