Dissolution of the University

(1) lf 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.