Section 23(2) in The Haryana Electricity Reform Act, 1997
(2)Any property, interest in property, rights and liabilities vested in the State Government under sub-section (1) shall be revested by the State Government in the Transco and generating company(ies) in accordance with the transfer scheme so published alongwith such other property, interest in property, rights and liabilities of the State Government as may be specified in such scheme, on such terms and conditions as may be agreed between the State Government and the Transco or generating company(ies), as the case may be. The State Government would consult the major lenders while finalizing the transfer scheme. The State Government would continue to guarantee all the liabilities transferred to the successor companies.Explanation. - For the purpose of this Chapter generating company(ies) shall mean the company or companies to be incorporated by the State Government to implement the reorganisation of the Electricity Industry in the State.
