Section 7 in Chhattisgarh Private Universities (Establishment and Operation) Rules, 2005
7. Forfeiture of Endowment Fund.
(a)If Commission is satisfied that such a situation has arisen that it has to discharge its responsibility according to provisions of sub-section (2) of Section 11 or/and 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 alongwith the income on this Endowment Fund, if any, for implementing the provisions of sub-section (2) of Section 11 of the Act.(b)Sponsoring Body shall reply the show-cause notice for forfeiture of the Endowment Fund within 45 days of its receipt.(c)After receipt of notice if Sponsoring Body fails to reply within stipulated period. Commission may recommend to the State Government for permission to forfeit the Endowment Fund and after obtaining permission Endowment Fund shall be forfeited and credited in the Government Account under the Head "0202-Education, Sports, Arts and Culture (103) University and Higher Education (0883).
