Hey,
If you are allotted the chosen colleges in the first round of counselling, then you can either join the college and go for second round counselling or you do not join the allotted college, still you can go for second round of counselling. You can also choose not to go for second round of counselling and keep the allotted colleges. In case you want to leave the counselling, free exit is allowed in first round of counselling without forfeiture of fees.
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