(6)Where a purchase has been effected under sub-section (1) or sub- section (5),-(a)the undertaking shall vest in the purchaser free from any debts, mortgages or similar obligations of the promoter or attaching to the undertaking:(b)save as aforesaid, the license granted under section 10 shall remain in full force and the purchaser shall be deemed to be the promoter:Provided that where the State Government elects to purchase, the licence granted under section 10 shall, after purchase, in so far as the State Government is concerned, cease to have any further operation.
