(1) The annuataccounts and Balance Sheet of the UIiversity shallbe prepared underthedirection of the Board of Managemenj and all funds accruing to or received bythe universiry from whateversource and ar amourt aisourseJoi piii sirurrL"1n,"r"o . .-. i. lLe accoJnrs -ra;nla;ned oy lne iJniversity.(2) The annual accounts of ihe Unlversity shall be audited by a chariered accountant, ^ who is a renoer ot tie JnstitLte oi Cna.re.eO eccoin-ra-i; ;;;;",;;,(3) A copy o, rhe a-nuar accourrs ard r"re Bar"""" S^""iiog"];r *i;,;;;rrJ,i:"p."shatl be submitted ro the Board of Governors o, ", L"i"i" o""".0"i si?ri;*..
,,. ctose of the financjat year rn March 31 each year,(4) lhe an--al accou, ts the Bararce Sheet an; lte audit reporl srat. be co-sideredby the Board of Governors ar its meering and ti," eo"ro oi'dou;r,;r; .f.,ifr-fo*urothe safie to the Visitorand the Staie Go;rnme"t "r."g*itn it" "b;";";;;; i;"r""non or before Decemoer 3i eacF vear,(5) ln-lne event of any materiat oJal,ircattons :n lne Reoorl of l"e Audito,s, lhe Srateuovernment nay issue djrect,ons to t-e U-,versify, anO sucn a,recion-s sf,ii oebinding on lhe Llniversitv.46. A cop) of any receipt, a;oicafion. not,ce, order, oroceedrng or resoluton of anyaJlhorry or cormiree ol rhe univers:ly or orher oo"r""n,j,n oor."..ln ^rin"Ua,ve-s:rv or any e.t.y in a-y ,"g,"r",6r,y ;"in,;;;; b;;:"';;fi;li;:;;;.,,,"d by rhe Reg,strar, shat, be receiveJas p-i-rla lacre ev,derce ol suc, rece:ot,ao.i.""ator,notice, order, proceeding, resotution or aoiumeni;; il;;;;";;;:iU# fith"register and shall be admifted as evidence of hu _utt"r" ""0i."*"iiorit "r-"in .ec-ordeo where rhe orig,na,thereof woJld. + proOr*J, n*"i""_-;;;l;;
"evtoence.
t2) Jf-the Sponsor proposes dissoluuon of the Universjty in accordance wilh the iawgove'1i^g rls co-srilution o.'nco-poral,on. il sha,f 9iu" u, ,""a, f*ur" ,.o"ifi n"oii"u,- w rl n9 io lhe State Governmenl and ,i sha,i ensir" tnut.o ne*.dh,*,"^ L" ,ilL.llivers ly are accepted dufl-g rhe ,rotice period.
ur 'de].triicalior of misma-agernenl, mal-ad.n,ntslration, ,n,oiscip,,ne, fatt_re i- t_eacco'rpfisLrn€nr ol rhe objects ot Lrrive,srry a1d economic hards_ip; ." fr" ' ' maraqemenl systems of U^;versity, tne Srare Goue,nr"ent *ortA i".r" ji.""r,on" Io the.'ra.agement syslen ot Unrversiry. tf tne d -ectio. aie nJloil; j;;i; " sLch r'-ne as nay be prescnbed, rhe r,g;r to lat. c""tion to, *ini,ng ui oi ,;"University would vesl in ihe State Gov;rnmenr_ r fe manner of winding up of lhe Universjtv l^e srare Governmell .n this oehall , , ll/ould be sLch as 'r1ay oe olescflbed by P'ovided that no such act on wr oe ir,trated wirhour aflordng a reasonableopportLrnily to show cause to the Soonsor :"..:::l:],"f ,h:
"g],"1 reterreo ro i1 sub-section (t ), rhe srale Governnerr sha,t.rn consulalron wirL the ATCTE and UGC Take s-"f, ui.rng"r"nf.,o, "jr,rfirui;;noi f e U'1iversily r.on lhs orooosed daie of d;sso,r,ijon oi the U",vers,iu ou iiJ "-,,sponsor and url;l the last batch o, stLoe^ts ir ."gr,"l.
"our..""-oi;,r;,ru."roiii"-"unrvers,ly cono,ere lheir courses ot stJdies :n srif, "r"""i "i ."v #pr"."l["0by ihe Slatutes.
(s)
(4) Expenditure ot the Unive$ity duing dissolution.