Amendment status not verified — confirm the current text below against the official source.
(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 six months notice in writing to the State Government. (2) On identification of mismanagement, mal-administration, indiscipline, failure in the accomplishment of the objects of the University and economic hardships in the management systems of the University, the State Government shall, subject to and in accordance with relevant law, if any for the time being in force, issue directions to the Sponsoring Body of the University and if the direction are not followed within such time as may be prescribed, the right to take decision for winding up of the University would vest in the State Government. (3) The manner of winding up of the University would be such as may be prescribed by the State Government in this behalf. (4) If the State Government considers it necessary to suspend the Board of Management, it shall, by notification published in the Official Gazette, order suspension of the Board of Management and shall make such arrangements in consultation with the Sponsoring Body for the administration of the business of the University till the completion of investigation as it may consider necessary: Provided that no such action will be initiated without affording a reasonable opportunity to show cause to the Sponsoring Body. 36 (5) If the State Government considers it necessary to suspend the Board of Governors, it shall, by notification published in the official Gazette, order for suspension of the Board of Governor with approval of Visitor of University and shall make arrangement for the administration of the business of the University till completion of investigation as it may consider necessary: Provided that no such action shall be initiated without affording a reasonable opportunity to show cause to the Sponsoring Body and (6) On receipt of the notice referred to in sub-section (1) or on a decision to wind up under sub-section (2), the State Government shall, in consultation with the all India Council for Technical Education, University Grants Commission and other concerned Regulatory Bodies, make such arrangements for administration of the University from the proposed date of dissolution or winding up of the University 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. Expenditure of the University during dissolution. 53.(1) The expenditure for administration of the University during the taken over period of its management under section 52 shall be met out of the Corpus Fund, the General Fund or the Development Fund. (2) If the fund referred to in sub-section (1) are not sufficient to meet the expenditure of the University during the taken over period of its management, such expenditure may be met by disposing of the properties or assets of the University, by the State Government. Removal of difficulties .