Section 24(3) in Karnataka Electricity Reform Act, 1999
(3)Where the Commission issues any notice under sub-section (1) requiring the licensee to sell the undertaking, it may by such notice require the licensee to deliver and thereupon the licensee shall deliver on a date specified in the notice, the undertaking to the designated purchaser pending the payment of the purchase price of the undertaking :Provided that in any such case, the purchaser shall pay interest at such percent not less than the Reserve Bank lending rate ruling at the time of delivery of the undertaking as the Commission may decide, on the purchase price for the period from the date of delivery of the undertaking to the date of payment.
