(1)If Promoting Trust proposes dissolution of the "Quantum University" in accordance with the law governing its constitution or incorporation, it shall give at least three months notice in writing to the State Government.(2)On identification of mismanagement, mal-administration, indiscipline, failure in the accomplishment of the objects of University and economic hardship in the management systems of University, the State Government would issue direction to the management system of University, if the direction are not followed within such time as may be prescribed, the right to take decision for winding up of the University would vest in the State Government.(3)The manner of winding up of the University would be such as may be prescribed by the State Government in this behalf:Provided that no such action will be initiated without affording a reasonable opportunity to show, cause to the Promoting Trust.(4)On receipt of the notice referred to in sub-section (1), the State Government shall, in consultation with University Grant Commission, make such arrangements for administration of the University from the proposed date of dissolution of the "Quantum University" and until the last batch of students in regular courses of studies of the University complete their courses of studies in such manner as may be prescribed by the Statutes.(5)On the dissolution of the University, all the assets and liabilities of the University shall vest in the Promoting Trust i.e., LMD Educational & Research Foundation (Promoting Trust), Dehradun.
