Section 4(8) in The U.P. Electricity Reforms (Transfer of Transmission and Related Activities Including the Assets, Liabilities and Related Proceedings Scheme, 2010
(8)In consideration of the transfer of the Transmission Undertaking from the Transferor to the Transferee as per this scheme, the Transferee shall issue shares in favour of the Transferor at par value as specified in Part II of Schedule of this scheme.
