Hello aspirant,

If you are talking about government/deemed universities, if you get allotted your preferred college, the security fee gets adjusted in your first-year tuition fee, after you take admission in the college. In case you don't get allotted any seat, it will be refunded once the counseling gets over. However, in states like UP, the security fee will be refunded once the counseling procedure is over, and not get adjusted anywhere.

Hope it helps!