Section 41(2) in Chitkara University (Establishment and Regulation) Act, 2008
(2)On the dissolution of the University all the assets and liabilities of the University shall vest in the sponsoring body:Provided that in case the sponsoring body dissolves the University before [fifty years] [Substituted for the words 'fifteen years,' vide H.P. Act No. 19 of 2011 again substituted for the words 'twenty five years' vide H.P. Act No. 25 of 2013, effective from 29th April, 2008.] of its establishment all the assets of the University [including assets of the sponsoring body pertaining to the University] [Inserted vide H.P. Act No. 8 of 2013, effective from 29th April, 2008.] shall vest in the Government free from all encumbrances.
