Section 7 in The M.P. Niji Vishwavidyalaya (Sthapana Avam Sanchalan) Rules, 2008
7. Forfeiture of Endowment Fund.
(1)On the report of the commission or otherwise, if the State Government is satisfied that such a situation has arisen that it has to discharge its responsibility according to provisions of Section 40 or 41 of the Act, it shall issue a show cause notice to the sponsoring body of the concerned private university for forfeiture of a part or whole of the Endowment Fund along with the income on this Endowment Fund, if any, for implementing the provisions of sub section (2) of Section 11 of the Act.(2)Sponsoring body shall reply the show cause notice for forfeiture of the Endowment Fund within 45 days of its receipt.(3)After receipt of notice, if sponsoring body fails to reply within prescribed period. Commission may recommend to the State Government for permission to forfeit the Endowment Fund and after obtaining permission, the Endowment Fund shall be forfeited and credited in the Government Account under the head 01 General Education (1) "0202-Education, Sports Art and Culture (103)-University and Higher Education (0662)".
