(1E)[ Where a State transport undertaking applies for renewal of a permit within the period specified in sub-section (2A) of section 58, the State Transport Authority or, as the case may be, the Regional Transport Authority, shall, renew such permit, notwithstanding anything to the contrary contained in Chapter IV.] [Inserted by Motor Vehicles (Amendment) Act, 1978 (47 of 1948), section 28 (w.e.f. 16.1.1979).]