Mooshahary, who is also the Visitor of the University, put forth his decision of dissolution of the University to the state government last evening, a press statement said.
"All the established facts clearly indicate that there has been mismanagement, maladministration, indiscipline and failure in the accomplishment of the objectives of the university, apart from criminal liability," he said.
The Governor said that the state government was asked to consider dissolution of the University in terms of section 48 of the CMJ University Act, 2009.
A state regulatory board for private universities has found many violations of norms by the University and the Criminal Investigation Department (CID) of the police has been investigating the lapses.
While four officials including the registrar, Mrinal Kanti Deb and his deputy Premlal Rai and two other university officials were arrested for alleged fraud, its Chancellor Chandra Mohan Jha has been on the run.
Earlier, the University Grants Commission (UGC) has appointed Tezpur University Vice Chancellor Mihir K Chaudhury as chairman of a nine-member committee to probe the functioning of the varsity.
Established in 2009, the CMJ University has allegedly awarded a record number of 434 Ph.D degrees in the past one year apart from registering 490 more Ph.D scholars during the same year.