Section 40 in The M.P. Niji Vishwavidyalaya (Sthapana Avam Sanchalan) Adhiniyam, 2007
40. Management of private university on dissolution of sponsoring body.
(1)If the sponsoring body proposes to dissolve itself or wants to discontinue the function of the private university established under this Act, it shall inform the Regulatory Commission of its plan by which it shall ensure completion of courses and conduct of examinations, and it shall announce the prospective date from which it shall not admit any new students.(2)The Regulatory Commission, on receipt of such information, shall have the right to issue such directions to the sponsoring body for the fulfillment of its obligations under sub-section (1) as it may deem necessary, and if the sponsoring body contravenes the provisions of sub-section (1), the endowment fund shall be forfeited by the Regulatory Commission and the Regulatory Commission shall make arrangements for completion of courses, conduct of examinations, award of degrees, etc., of students of the private university, either by undertaking the job itself or by assigning the job to some other university in such manner that the interest of the students are not effected adversely in any manner and expenditure made for these arrangement for the students shall be made good from the money deposited in the endowment fund and/or general fund of the private university.
