Section 4(3) in The Hindustan Tractors Limited (Acquisition and Transfer of undertaking) Act, 1978
(3)Where any licence or other instrument in relation to the undertakings of the Company had been granted at any time before the appointed day, the Company by the Central Government, a State Government or any other authority, the Central Government, the State Government of Gujarat of, as the case may be, the Government company in which the right, title and interest of the Company in relation to its undertakings have vested under section 7, shall, on and from the appointed day, be deemed to be substituted in such licence or other instrument in place of the Company referred to therein as if such licence or other instrument had been granted to it and shall hold such licence or the undertakings or any part thereof specified in such other instrument for the remainder of the period for which the Company would have held such licence or undertakings or any part thereof under such other instrument.
