Section 19(6) in Bihar Electricity Regulatory Commission (Licencing for Transmission of Electricity) Regulations, 2007
(6)When Commission has given notice of revocation of licence and the licensee is willing to relinquish his licence (and does not plan to take remedial and improvement measures and does not request the Commission to drop revocation proposal), the licensee may, after prior approval of the Commission, sell the undertaking of the Licensee to any person/company which is found eligible by the Commission for grant of transmission licence, without prejudice to any proceedings which may be or has been initiated or any penalty which may be imposed by the Commission.
