Managements of unaided professional colleges in Karnataka on Friday agreed for a 75:25 per cent seat sharing formula with the state government and for the fee structure fixed by it for the year 2003-2004.

Karnataka Higher Education Minister Dr G Parameshwara said the Common Entrance Test ranking list, which had already been prepared would hold good for 2003-2004 academic year only and there would be no re-counselling for the students who had already been selected for admissions.

The solution to the ragging issue affecting thousands of students aspiring for seats in engineering and medical colleges was worked out at a meeting of representatives of the managements with Chief Minister S M Krishna, Parameshwara and senior officials in Bangalore.

The counselling suspended in the wake of the Supreme Court verdict, which gave a 50:50 seat sharing formula would, however, resume from August 25 for selection of students for admission, he said.

By maintaining the status quo in seat matrix already announced by the government, the interest of non-Karnataka students, who had faced the threat of losing their admissions, has been protected from this agreement.

Parameshwara said the number of seats, which remained unfilled during the counselling by CET would automatically go to the management.