49. (1) Where the State Government is satisfied that any of the directions given by it to the University under this Act, is not complied with, or, on receipt of a complaint with respect to mismanagement of the University, it shall require the University to show cause within such time which shall not be less than one month as to why the University should not be wound up.
(2) If, upon receipt of the reply of the University to the notice given under sub-section (1), the State Government is satisfied that a prima facie case of mismanagement or violation of the provisions of this Act, the rules, the Statutes, the Ordinances or any direction issued thereunder is made out, it shall order such inquiry as it deems necessary.
(3) For the purposes of an inquiry under sub-section (2), the State Government shall, by notification, appoint an officer or authority as the inquiring authority to inquire into and report upon the allegations of mismanagement, violation of the provisions of this Act, the rules, the Statutes, the Ordinances or any direction issued thereunder.
(4) Where the State Government considers it necessary or expedient to suspend the Board of Governors or the Board of Management for the purposes of an inquiry with respect to the affairs of the University, it may, by notification, order suspension of the Board of Governors or the Board of Management, as the case may be, and make such arrangement for the administration of the University as it considers necessary till the conclusion of the inquiry.
(5) Every inquiring authority appointed under sub-section (3) shall, while performing its functions under this Act, have all the powers of a civil court trying a suit and in particular in respect of the following matters, namely :-
(a) summoning and enforcing the attendance of any witness and examining him on oath ;
(b) requiring the discovery and production of any document ;
(c) requisitioning any public record or copy thereof from any office ;
(d) receiving evidence on affidavits ;
(e) any other matter which may be prescribed by the rules.
(6) If, upon receipt of the inquiry report, the State Government is satisfied that the University has been mismanaged or has violated any provisions of this Act, the rules, the Statutes, the Ordinances or any direction issued thereunder it may, by notification, order winding up of the University.
(7) While issuing a notification under sub-section (6) the State Government shall make further arrangements for the administration of the affairs of the University, till current courses of study are over.
(8) During the period of management of the University under sub-section (7), the State Government may utilize the permanent endowment fund, the general fund or the development fund for the purposes of the management of the affairs of the University. If the funds of the University are not sufficient to meet the requisite expenditure of the University, the State Government may dispose of the assets or properties of the University to meet the said expenses.
(9) Every notification under sub-section (6) shall be laid before both Houses of the State Legislature.