http://forum.keypublishing.com/showthread.php?t=344
http://www.warbirdsofindia.com/WDY/wbme109hunt.html
It appears that the rights of the college to dispose of the aircraft is disputed.
I remember reading about it on a now defunct website, it was becoming more & more derelict, when it was first seen by English eyes, in the late 80s, IIRC, it was in one piece, subsequently, the wings & engine had been parted from the rest of the airframe.
I'd suggest that it's in better hands now, without Western interest, it's probably have been recycled as Coke cans by now.
Having seen how the Spitfire recovered from a riverbed was "restored" http://www.warbirdsofindia.com/haryana/ambala/63-supermarine-spitfire-mv459.html
I'd suggest it's in safer hands where it is.