The minister for minority welfare said the previous SP government had sanctioned "hundreds of crores" of rupees for development works at the university, hence it would be improper to turn it into Khan's "private property".
Aulakh said that every pie invested in and around the University will be "scanned" by the competent authorities.
"Government funds have allegedly been misused and a probe is inevitable," he said.
He also demanded questioning of SP leaders Mulayam Singh Yadav and Akhilesh Yadav for spending "hundreds of crores" rupees from the government exchequer to "pacify" their colleague.
District Collector SS Awasthi has already ordered an enquiry into an allegation that the plot on which the university has been built was "enemy property" as its original owner had migrated to Pakistan.
The collector has deputed the SDM Sadar and the Tehsildar to look into the matter.
"The government may take any sort of revenge on Azam Khan's sympathisers, but the institution's future must remain secure," he said.
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