(7)[ Where, in a scheme of demerger, the demerged company sells or otherwise transfers the licence to the resulting company (being an Indian company),-(i)the provisions of sub-sections (2), (3) and (4) shall not apply in the case of the demerged company; and(ii)the provisions of this section shall, as far as may be, apply to the resulting company as they would have applied to the demerged company if the latter had not transferred the licence. ]
