Section 8(2) in The M.P. Niji Vishwavidyalaya (Sthapana Avam Sanchalan) Rules, 2008
(2)Regulatory Commission shall examine the affidavit submitted by the Sponsoring Body and in case of disagreement with the facts mentioned in the affidavit. Regulatory Commission shall return such a portion of the Endowment Fund and income therefrom, if any, as it considers proper, and it will not return the same till it is fully satisfied that the sponsoring body does not bear any due liabilities to the State Government, students or employees of the private university, and that the arrangements have been made for completion of the courses, conduct of examination and on that basis awarding of degree, diploma and certificate, etc. to the students studying in the Private University :Provided that where the amount of Endowment Fund has been deposited in the Fund of the Regulatory Commission by a sponsoring body with an intention to start a Private University after receiving letter of intent, as per sub-section (2) of Section 6 of the Act, and where the Regulatory Commission is satisfied as per Section 8 of the Act, that the proposal to establish a Private University can not be approved by it for the reasons to be recorded in writing and thus is not in a position to advise the State Government to issue a Notification for establishment of the Private University under sub-section (1) of Section 9 of the Act, the Regulatory Commission shall refund the amount of Endowment Fund and Income therefrom, if any, to the sponsoring body.
