Section 4(7) in The U.P. Electricity Reforms (Transfer of Transmission and Related Activities Including the Assets, Liabilities and Related Proceedings Scheme, 2010
(7)The transfer of the Transmission undertaking from the Transferor to the Transferee under this Scheme shall be a de-merger of the Transferor within the meaning of Section 2 (19AA) of the Income Tax Act, 1961 and subject to sub-clause (3) above, the opening Balance sheet of the Transferee as on the date of the transfer shall be as per Part II of Schedule of this scheme.
