The competent authority may in public interest withdraw permission to run a private college if in its opinion the educational agency is not running the college in accordance with the provisions of this Act or the rules made thereunder :
Provided that no such order of withdrawal of permission shall be passed by the competent authority without affording to the educational agency a reasonable opportunity of being heard :
Provided further that an educational agency aggrieved by the decision of the competent authority under this section may prefer an appeal to the Government against such decision within a period of thirty days from the date such decision is conveyed to it and the Government, after affording a reasonable opportunity of being heard to such educational agency and the competent authority, may pass such orders as it may deem fit. Such an order shall be final and binding on all parties.