This is an excerpt from the Information Bulletin:

Candidates will not be permitted to withdraw from the course after the last date of free exit notified by university. Candidates who have joined the course are not permitted to withdraw from the course after closure of admissions. If Candidates want to discontinue the course after last date of free exit/ after closure of admission they have to pay discontinuation fee of Rs.3,00,000/- (Rupees Three Lakhs only ) to the University and will also be debarred for three years from admissions in to same course in colleges under KNRUHS.

This means that you can only take admission in other seat by participating in further rounds of Counselling only if you have opted for Free exit. If you did not opt for Free exit but reported to the College, the chances of participating in subsequent rounds of Counselling are slim. And there is no policy of leaving the seat once reported. If you wish to do so, you will have to forfeit the College fees and also pay 3 lakhs in addition to the University. This is a decision that you need to take.