  The dynamical cluster-decay model (DCM) is developed further for the decay of
hot and rotating compound nuclei (CN) formed in light heavy-ion reactions. The
model is worked out in terms of only one parameter, namely the neck-length
parameter, which is related to the total kinetic energy TKE(T) or effective
Q-value $Q_{eff}(T)$ at temperature T of the hot CN, defined in terms of the
both the light-particles (LP), with $A \leq$ 4, Z $\leq$ 2, as well as the
complex intermediate mass fragments (IMF), with $4 < A < 20, Z > 2$, is
considered as the dynamical collective mass motion of preformed clusters
through the barrier. Within the same dynamical model treatment, the LPs are
shown to have different characteristics as compared to the IMFs. The systematic
variation of the LP emission cross section $\sigma_{LP}$, and IMF emission
cross section $\sigma_{IMF}$, calculated on the present DCM match exactly the
statistical fission model predictions. It is for the first time that a
non-statistical dynamical description is developed for the emission of
light-particles from the hot and rotating CN. The model is applied to the decay
of $^{56}$Ni formed in the $^{32}$S + $^{24}$Mg reaction at two incident
energies E$_{c.m.}$ = 51.6 and 60.5 MeV. Both the IMFs and average $\bar{TKE}$
spectra are found to compare reasonably nicely with the experimental data,
favoring asymmetric mass distributions. The LPs emission cross section is shown
to depend strongly on the type of emitted particles and their multiplicities.
