Section 41(2) in APG (Alakh Prakash Goyal) Shimla University Establishment and Regulation Act, 2012
(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 'twenty five years' vide Act No. 37 of 2013.w.e.f. 19.6.2012.] of its establishment, all the assets of the University, including assets of the sponsoring body pertaining to the University shall vest in the Government free from all encumbrances.
