“For the reasons aforestated, the writ petition is allowed to the extent that the communication dated 25.11.2003 (Annexure P-2) demanding FDRs on account of Endowment Fund is set aside, however, with a direction to the petitioner-College to furnish an irrevocable and un-conditional bank guarantee in the name of the Registrar of University of equivalent amount which shall initially be valid for a period of 05 years and shall be further renewed on the asking of University at least 03 months before expiry of the validity period. Similar communication(s) issued to the petitioner-Colleges in the connected cases are also set aside in same terms. In the event of any college showing reluctance to furnish bank guarantee in the above-stated manner, the respondentUniversity shall be entitled to take appropriate action against such College in accordance with law. The bank guarantee already furnished by the college in the instant writ petition as well as by the colleges in the connected writ petitions under the interim orders shall continue to be valid though the same shall also be renewed in the manner, directed above”.