Section 42(6) in The Punjab State Electricity Regulatory Commission (Conduct of Business) Regulations, 2005
(6)Where the Commission has given notice of revocation of licence, the licensee may, after prior approval of the Commission, sell the undertakings of the Licensee to a person who is found eligible by the Commission for grant of licence, without prejudice to any proceeding which may be or has been initiated or any penalty which may be imposed by the Commission.
