Section 20(4) in The U.P. Electricity Reforms Act, 1999
(4)Where, for any reason whatsoever, the undertaking of a licensee where licence has been revoked, cannot be sold under sub-section (1) the State Government shall acquire the said undertaking and pay the licensee whose licence has been revoked, the amount determined in accordance with Section 7-A of the Indian Electricity Act, 1910, as applicable to Uttar Pradesh, and shall discharge all the obligations of the licensee until such times as the State Government sells the said undertaking to a new- licensee, which it shall endeavour to do expeditiously without undue delay.
