Section 23(4) in Rajasthan Power Sector Reforms Act, 1999
(4)Where before the date fixed in the notice issued under clause (a) of sub-section (1) being the date on which the revocation of the license shall take effect, no notice has been issued to the licensee requiring him to sell the undertaking or where for any reason no sale of the undertaking has been effected under that sub-section, the State Government shall acquire the undertaking on the date of revocation of the license and shall pay to the licensee an amount determined in accordance with sub-sections (1) and (2) of section 7-A of the Indian Electricity Act, 1910 (Central Act No. 9 of 1910), as applicable in the State and shall perform all the obligations of the licensee until such time as the State Government is able to sell the undertaking to a new licensee which it shall endeavour to do expeditiously without undue delay.
