Section Text
1) Where a licence has been granted to any person, not being a local authority, the State Electricity Board shall-
(a) in the case of a licence granted before the commencement of the Indian Electricity (Amendment) Act, 1959 (32 of 1959), on the expiration of each such period as is specified in the licence : and (b) in the case of a licence granted on or after the commencement of the said Act, on the expiration of such period not exceeding 35[thirty] years and of every such subsequent period, not exceeding 35[twenty] years, as shall be specified in this behalf in the licence have the option of purchasing the undertaking and such option shall be exercised by the State Electricity Board serving upon the licensee a notice in writing of not less than one year requiring the licensee to sell the undertaking to it at the expiry of the relevant period referred to in this sub-section.
(2) Where a State Electricity Board has not been constituted, or if constituted, does not elect to purchase the undertaking, the State Government shall have the like option to be exercised in the like manner of purchasing the undertaking.
(3) Where neither the State Electricity Board nor the State Government elects to purchase the undertaking, any local authority constituted for an area within which the whole of the area of supply is included shall have the like option to be exercised in the like manner of purchasing the undertaking.
(4) If the State Electricity Board Intends to exercise the option of purchasing the undertaking under this section, it shall send an intimation in writing of such intention to the State Government at least eighteen months before the expiry of the relevant period referred to in sub-section (1) and if no such intimation as aforesaid is received by the State Government the State Electricity Board shall be deemed to have elected not to purchase the undertaking.
(5) If the State Government intends to exercise the option of purchasing the undertaking under this section, it shall send an intimation in writing of such intention to tlie local authority, if any, referred to in sub-section (3) at least fifteen months before the expiry of the relevant period referred to in sub-section (1) and if no such intimation as aforesaid is received by the local authority, the State Government shall be deemed to have elected not to purchase the undertaking.
(6) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State Electricity Board, the Government or the local authority, as the case may be, on the expiration of the relevant period referred to in sub-section (1) pending the determination and payment of the purchase price.
(7) Where an undertaking is purchased under this section, the purchaser shall pay to the licensee the purchase price determined in accordance with the provisions of sub-section (4) of Sec. 7-A-. STATE AMENDMENTS Assam.-In Sec. 6 (7) of the Act-
(a) Substitute the words "an amount" for the words "the purchase price";
(b) Substitute the words, brackets, figures "sub-sections (1), (2) and (3)" for the words, brackets and figure "sub-section (4)" (Assam Act 9 of 1973, Sec. 3, enforced w.e.f. 27th September. 1972). Bihar.- For Sec. 6 of the said Act, the following section shall be substituted, namely: "6. Purchase of undertaking.-(1) Where a licence has been granted to any person, the State Electricity Board shall, on the expiration of the period for which the licence may be presently valid on the date the Indian Electricity (Bihar Amendment) Ordinance, 1974 comes into force, or on the expiry of subsequent period, not exceeding three years, have the option of purchasing the undertaking and such option shall be exercised by the State Electricity Board serving upon licensee a notice in writing of not less than six months requiring the licensee to sell the undertaking on the expiry of the relevant period referred to in this sub-section.
(2) If the State Electricity Board intends to exercise the option of purchasing the undertaking under this section, it shall send an intimation in writing of such intention to the State Government at least one year before the expiry of the relevant period referred to in sub-section (1) and if no such intimation as aforesaid is received by the State Government, the State Electricity Board shall be deemed to have elected not to purchase the undertaking.
(3) Where the State Electricity Board has not elected to purchase the undertaking, the State Government shall have the like option to be exercised in the like manner of purchasing the undertaking.
(4) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State Electricity Board or the State Government, as the case may be, on the expiration of the relevant period referred to in sub-section (1) pending the determination and payment of the amount referred to in sub-section (5) of this section.
(5) Where an undertaking is purchased under this section the purchaser shall pay to the licensee an amount determined in accordance with the provisions of subsections ( 1 ) and (2) of Sec. 7-A." [Bihar Ordinance 50 of 1974, Sec. 3.] In Sec. 6 of the Indian Electricity Act, 1910(9 of 1910), as substituted by the Indian Electricity (Bihar Amendment) Act, 1974 (Bihar Act 15 of 1975),- :
(i) to sub-section (4), the following proviso shall be added, namely: "Provided that:
(a) the State Electricity Board or the State Government, as the case may be, shall pay or tender payment of the amount referred to in sub-section (5) of this section as soon as the amount has been determined, together with interest on such amount from the date of purchase to the date of payment or tender of payment as aforesaid at the rate of one per centum above the average of the Reserve Bank rates between the date of delivery of the undertaking and the dates of payment;
(b) the receipt of the licensee shall, notwithstanding anything in any other law be a full and sufficient discharge to the State Electricity Board or the State Government as the case may be, for the payment of dues in respect of the purchase."
(ii) after sub-section (5), the following sub-section shall be added, namely. "(6) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee before the commencement of the Indian Electricity (Bihar Amendment) Act, 1974 (Bihar Act XV of 1975), and the undertaking has been purchased thereafter the amount payable to the licensee on account of the purchase of the undertaking shall be determined in accordance with the provisions of Sec. 7-A of the Indian Electricity Act, 1910 as substituted by the Indian Electricity (Bihar Amendment) Act, 1974 (Bihar Act 15 of 1975), as if the last-mentioned Act was then in force and it shall be deemed to have been always in force." [Vide Bihar Act 7 of 1956.] Validation.-Notwithstanding anything contained in any judgment, decree or order of any Court, every delivery of an undertaking effected by a licensee to the Bihar State Electricity Board, the Government of Bihar or local authority, as the case may be, after the 2nd day of February, 1974 and before the commencement of this Act, shall be deemed to have been exercised or effected, as the case may be, under Sec. 6 of the Indian Electricity Act, 1910 (Act IX of 1910), as amended by Bihar Act XV of 1975 and this Act, as if the said Sec. 6 so amended was in force at all material times when the delivery was effected and accordingly every delivery of the undertaking so effected and all things done or actions taken in consequence of such delivery of the undertaking shall be and shall be deemed always to have been valid and shall not be called in question in any Court or tribunal or before any authority merely on the ground that Sec. 6 of the Bihar Act XV of 1970, did not provide for payment of any Interest on the amount payable for the period from the date of delivery of the undertaking to the date or dates of its payment. Gujarat.- In Sec. 6 of the Indian Electricity Act. 1910 (in its application to the State of Gujarat) (hereinafter referred to as "the principal Act"),-
(i) after sub-section (5), the following sub-section shall be inserted and shall be deemed to have been added with effect from the 1st day of May, 1960. namely : "(5-A) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State Electricity Board, the State Government or the local authority, as the case may be, on the expiration of the relevant period referred to in sub-section ( 1 ) pending the determination and payment of the purchase price;
(ii) sub-section (6) shall be deleted and shall be deemed to have been deleted with effect from the 1st day of May, 1960. [Gujarat Act 18 of 1976, Sec. 2]. Validation.-Notwithstanding anything contained in any judgment, decree or order of any Court, every option of purchase of an undertaking exercised by the Gujarat Electricity Board, the State Government or a local authority in the State of Gujarat by serving a notice upon a licensee under Sec. 6 of the principal Act and every delivery of an undertaking effected by a licensee to the Electricity Board, State Government or local authority, as the case may be, in pursuance of such notice, at any time after the 1st May, 1960 and before the commencement of this Act, shall be deemed to have been exercised or effected, as the case may be, under Sec. 6 of the principal Act as amended by this Act as if the said Sec. 6 as so amended to were in force at all material times when such option was exercised or delivery was effected and accordingly every option or purchase so exercised and every delivery of an undertaking so effected and all things done or actions taken in consequence of such exercise of option or delivery of the undertaking shall be, and shall be deemed always to have been, valid and shall not be called in question in any Court or tribunal or before any other authority merely on the ground that Sec. 6 of the principal Act did not provide for the payment of any interest on purchase price for the period from the date of delivery of the undertaking to the date of payment of the purchase price. [Gujarat Act 18 of 1979, Sec. 6.] Haryana.-In Sec. 6,-
(i) after sub-section (5), the following sub-section shall be added and shall be deemed to have been added with effect from the 1st day of April, 1960. namely : "(5-A) Where a notice exercising the option to purchase the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State Electricity Board, the State Government or the local authority, as the case may be, on the expiration of the relevant period referred to in sub-section ( 1 ) pending the determination and payment of the purchase price:
Provided that in any case, the purchaser shall pay to the licensee, interest at the Reserve Bank rate ruling at the time of delivery of the undertaking plus one per cent. on the purchase price of the undertaking for the period from the date of delivery of the undertaking to the date of payment of the purchase price:"
(ii) sub-section (6) shall be deleted and shall be deemed to have been deleted with effect from the 1st day of April, 1960. [Haryana Act 13 of 1975, Sec. 2.] Validation.-Notwithstanding anything contained in any judgment, decree or order of any Court, every option of purchase of an undertaking, in the territories now forming part of the State of Haryana, exercised by the erstwhile Punjab State Electricity Board or the Haryana State Electricity Board by serving a notice upon a licensee under Sec. 6 of the principal Act and every delivery of an undertaking effected by a licensee to the said Electricity Board in pursuance of such notice at any time on or after the 1st day of April, 1960, and before the commencement of this Act, shall be deemed to have been exercised or effected, as the case may be, under Sec. 6 of the principal Act, as amended by this Act, as if Sec. 6 as so amended were in force at all material times when such option was exercised and every delivery of an undertaking so effected and all things done or actions taken in consequence of such exercise of option or delivery of the under- taking shall be, and shall be deemed always to have been valid and shall not be called in question in any Court or tribunal or before any other authority on the ground that Sec. 6 of the principal Act did not provide for the payment of any interest on the purchase price for the period from the date of delivery of the undertaking to the date of payment of the purchase price. [Haryana Act 13 of 1970, Sec. 5.] Madhya Pradesh.-In Sec. 6 of the principal Act, for sub-section (7), the following sub-section shall be substituted, namely: "(7) Where an undertaking is purchased under this section, the purchaser shall pay to the licensee an amount determined in accordance with the provisions of sub-sections (1), (2) and (3) of Sec. 7-A." [M.P. Act 19 of 1974, Sec. 3.] Amendment made by Secs. 2, 3 and 4 to have retrospective effect.-The provisions of sub-sections (2) and (3) of Sec. 5, sub-section (7) of Sec. 6 and Sec. 7-A substituted by Sees. 2, 3 and 4, respectively of this Act shall apply to all licensees in respect of their undertakings sold under Sec. 5 or Sec. 6 of the principal Act, and purchase price in respect whereof was not determined prior to the 2nd day of March, 1974. [M.P. Act 19 of 1974, Sec. 5.] In Sec. 6 of the Indian Electricity Act, 1910 (No. IX of 1910), in its application to the State of Madhya Pradesh (hereinafter referred to as the principal Act), for sub-section (6), the following sub-section shall be and shall always be deemed to have been substituted with effect from the 1st April, 1964, namely: "(6) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State Electricity Board, the State Government or the local authority, as the case may be, on the expiration of the relevant period referred to in sub-section (1) pending the determination and payment of the amount as purchase price under sub-section (7) :
Provided that in any such case. the purchaser shall pay to the licensee, interest at the Reserve Bank rate ruling at the time of delivery of the undertaking plus one per centum, on the amount payable to the licensee for the period from the date of delivery of the undertaking to the date of payment of the amount."[Vide Act 18 of 1976.] Validation.- Notwithstanding anything contained in any judgment, decree or order of any Court, every option of purchase of an undertaking exercised by the Madhya Pradesh Electricity Board, the State Government or a local authority in the State of Madhya Pradesh by serving a notice upon a licensee under Sec. 6 of the principal Act and every delivery of an undertaking effected by a licensee to the said Electricity Board, the State Government or local authority, as the case may be, in pursuance of such notice at any time after 1st April. 1964 and before the 22nd November, 1975 shall be deemed to have been exercised or effected, as the case may be, under Sec. 6 of the principal Act, as amended by this Act as if the said Sec. 6 as so amended were in force at all material times when such option was exercised or delivery was effected and accordingly every option of purchase so exercised and every delivery of an undertaking so effected and all things done or actions taken in consequence of such exercise of option or delivery of the undertaking shall be, and shall be deemed always to have been valid and shall not be called in question in any Court or tribunal or before any other authority merely on the ground that Sec. 6 of the principal Act did not provide for the payment of any interest on the amount payable as purchase price for the period from the date of delivery of the undertaking to the date of payment of the amount as purchase price. Maharashtra.--In Sec. 6 of the principal Act,-
(1) for sub-section (6), the following shall be and shall be deemed always to have been substituted, namely : "(6) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State electricity Board, the State Government or the local authority, as the case may be, on the expiration of the relevant period referred to in sub-section (1) pending the determination and payment of the purchase price and interest";
(2) in sub-section (7), the following shall be and shall be deemed always to have been inserted at the end, namely : "And interest at the Reserve Bank of India rate ruling at the time of delivery of the undertaking plus one per cent. on the purchase price of the undertaking for the period from the date of delivery of the undertaking to the date of payment of the purchase price." Ratification.-Any notice served or purported to be served by the Maharashtra State Electricity Board on any licensee under sub-section ( 1 ) of Sec. 6 of the principal Act, or any delivery of the undertaking by the licensee to the Board made or purported to be made in pursuance of such notice before the commencement of this Act shall be and shall be deemed to have been served or made under the principal Act as amended by this Act. And accordingly, notwithstanding anything contained in any judgment, decree or order of any Court, any such notice served upon any licensee or delivery of the undertaking made by him to the said Board shall be deemed to have been validly and effectively served or made ; and any such notice served or delivery of undertaking made shall not be questioned (and if questioned shall not be maintained) in any Court merely on the ground that the notice was not served on the licensee as required by the provisions of sub-section (1) of Sec. 6 or that under sub-section (6) of Sec. 6, the licensee delivered his undertaking to the said Board and was deprived thereof without payment of the purchase price and without pay- ment of any interest for the period from the date of delivery of the under- taking to the date of payment of the purchase price. [Maharashtra Act 53 of 1975, Secs. 3 and 4.] In Sec. 6 of the principal Act,-
(1) in sub-section (6), for the words "payment of the purchase price", the words "payment of the amount" shall be substituted, and (2) for sub-section (7), the following shall be substituted, namely: "(7) Where an undertaking is purchased under this section, the purchaser shall pay to the licensee the amount determined in accordance with the provisions of Sec. 7-A and interest at the Reserve Bank of India rate ruling at the time of delivery of the undertaking plus one per cent., on the amount payable for the undertaking for the period from the date of delivery of the undertaking to the date of payment of such amount."- [Maharashtra Act 44 of 1976, Sec. 31 Amendment made in Secs. S, 6 and 7-A to apply in relation to all licensees, etc.-The provisions of Secs. 5, 6 and 7-A of the principal Act as amended by this Act. shall have effect in relation to all the licensees in respect of their undertakings, including any licensee on whom a notice requiring him to sell the undertaking has been issued under subsection (1) of Sec. 5. or on whom a notice exercising the option of purchasing the undertaking has been served under sub-section ( 1 ) of Sec. 6 of the principal Act before the commencement of the Indian Electricity (Maharashtra Amendment) Act, 1976 (Mah. XLIV of 1976), and the purchase price in respect of whose undertaking was not determined before such commencement. Uttar Pradesh amendment of new Sec. 6-A.-In Sec. 6 of the Indian Electricity Act, 1910, hereinafter in this chapter referred to as the principal Act, after sub-section (6), the following sub-section shall be added, namely: "(6-A) After the service upon the licensee under this section of a notice by the State Electricity Board exercising the option of purchasing the undertaking-
(a) the licensee shall prepare and furnish to the Board within a period of three months from the date of service of such notice an inventory of all lands, buildings, works, materials and plant belonging to the undertaking at the time of the service of such notice and shall be bound to allow the Board or its agents or the Electrical inspector to the State Government or any officer subordinate to him authorized by him in this behalf, at all reasonable times during the pendency of the said notice and until delivery of the undertaking to the Board under sub-section (6), to enter upon such lands, buildings and works, and inspect such lands, buildings, works, materials and plant and prepare an inventory thereof or to check the correctness of the inventory furnished by the licensee;
(b) the licensee shall be bound to keep all his lands, buildings, works, materials and plant belonging to the undertaking in as good condition as they were at the time of the service of such notice subject only to changes caused by reasonable, wear and tear or by irresistible force, and to allow the said Board and its agents, or the Electrical Inspector to the State Government or any officer subordinate to him authorized by him in that behalf, at all reasonable times during the pendency of the said notice and until delivery of the undertaking to the Board under sub-section (6) to enter upon such lands, buildings, and works and inspect the condition thereof and the condition of the said materials and plant;
(c) the licensee may use the said lands, buildings, works, materials and plant as a person of ordinary prudence would use them if no such notice as aforesaid were served, but he shall not pull down or damage any such buildings, works, materials or plant or commit any other act which is destructive thereof or permanently injurious thereto or remove any such materials or plant from the undertaking:
(d) the licensee shall be liable to account to the Board for all such lands, buildings, works, materials and plant, as existed at the time of the service of such notice." [U.P. Act 36 of 1974, Sec. 2.] Uttar Pradesh repealing and re-enactment of sub-sections (6) and (7) of Sec. 6.-In Sec. 6 of the principal Act, sub-sections (6) and (7) are thereby repealed with effect from 5th September, 1959, and are re-enacted and shall be deemed to have been re-enacted with effect from the same date as follows, namely : "(6) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee under this section, the licensee shall deliver the undertaking to the State Electricity Board, the State Government or the local authority, as the case may be, or to such officer as the Board, the Government or the local authority may appoint in that behalf on the expiration of the relevant period referred to in sub-section (1) pending the determination and payment of the amount referred to in sub-section (7) :
Provided that the licensee shall, in addition to the said amount, be entitled to interest thereon at the Reserve Bank rate ruling at the time of delivery of the undertaking plus one per cent for the period from the date of delivery of the undertaking to the date of payment of said amounts.
(7) Where an undertaking is purchased under this section, the purchaser shall pay to the licensee an amount determined in accordance with the provisions of Sec. 7 and Sec. 7-A, as substituted by the Indian Electricity (Uttar Pradesh Amendment and Validation) Act, 1975." [U.P. Act 6 of 1975, Sec. 3.] Validation.- Notwithstanding any judgment, decree or order of any Court or tribunal to the contrary-
(a) every option of purchase of an electricity undertaking exercised by the Uttar Pradesh State Electricity Board, by serving notice upon a licensee under Sec. 6 of the principal Act, and every delivery of an undertaking effected by a licensee to the said Board, in pursuance of such notice at any time after 5th September, 1959. and anything done or purporting to have been done and any action taken or purporting to have been taken (including purchase and delivery of every undertaking) before the commencement of delivery of an undertaking before the commencement of this Act, under Secs. 6, 7 and 7-A of the principal Act shall be deemed to be and always to have been as valid as if the provisions of this Act were in force at all material times, and shall not be called in question in any Court or Tribunal or before any other authority on the ground that Sec. 6 of the principal Act did not provide for the payment of any interest on the purchase price for the period from the date of delivery of the undertaking to the date of payment of the amount, and (b) notwithstanding that the payment of tlie amount referred to in sub-section (7) of Sec. 6 of the principal Act is not simultaneous with the taking delivery of possession of an undertaking the provision in sub-section (6) of that section requiring delivery of the undertaking to the said Board shall have effect, and (c) a licensee, whose undertaking is purchased, or for the purchase of which proceedings have been commenced and are pending at the commencement of this Act shall be entitled in addition to the amount referred to in sub-section (7) of Sec. 6 of the principal Act, interest thereon in accordance with the proviso to subsection (6) of that section (as inserted by this Act) as if the proviso existed at all material times. [U.P. Act 16 of 1975. Sec. 8.] In Sec. 6 of the Indian Electricity Act, 1910 as amended in its application to Uttar Pradesh, hereinafter referred to as the principal Act, in sub-section ( 1 ), for the words "one year", the words "eleven months" shall be substituted and be deemed always to have been substituted. [U.P. Act 14 of 1976, Sec. 2 (w.e.f. 27th November. 1976.)] Validation.-Notwithstanding anything contained in any judgment, decree or order of any Court or other authority to the contrary, anything done or purporting to have been done and any action taken or purporting to have been taken under any provision of the principal Act before the commencement of this Act including, in particular, the period of notice issued under sub-section ( 1 ) of Sec. 6 thereof shall, subject to the provisions of the principal Act as amended by this Act, be deemed to be and always to have been as valid as if the provisions of this Act were in force at all material times, and accordingly any notice issued under sub-section ( 1 ) of the said Sec. 6 to a licensee of not less than eleven months shall be valid and be deemed always to have been validly given. [U.P. Act 14 of 1976, Sec. 9.] Uttar Pradesh- Insertion of new Sec. 6-A.-After Sec. 6 of the principal Act, the following section shall be inserted, namely : "6-A. Revocation of licences and acquisition of undertaking.-
(1) In this section 'appointed day' means in relation to licensees other than local authorities, 1st December, 1975 and in relation to local authorities being licensees, such date as may be specified by the State Government by notification in that behalf, and different dates may be specified for different such undertakings.
(2) Notwithstanding anything contained in Secs. 4, 4-A, 5 and 6, the licence of every undertaking, unless revoked before the commencement of the Indian Electricity (Uttar Pradesh Second Amendment) Ordinance, 1975, shall stand revoked with effect from the appointed day.
(3) On revocation of the licence under sub-section (2). the following provisions shall have effect, namely:
(a) every undertaking the licence in respect f which stand revoked shall by virtue of this section stand and be deemed to have stood transferred to and vest and be deemed to have vested in the State Electricity Board, hereinafter in this section called 'the Board', free from any debt, mortgage or similar obligation of the licence attaching to the undertaking :
Provided that any such debt. mortgage or similar obligation shall attach to the amount payable for the undertaking as mentioned in Cl. (h);
(b) the rights, powers, authorities, duties and obligations of the licensee under his licence shall stand transferred to the Board and the licence shall cease to have further operation ;
(c) the licensee shall deliver forthwith the undertaking to the Board or to such other officer as the Board may appoint in that behalf, and if any property or asset, book of account, register or other document forming part of the undertaking be in the pos- session, custody or control of any person other than a licensee, such person shall also deliver the same to the Board or to such officer as aforesaid;
(d) the Board shall prepare an inventory of all properties, assets, books of account, registers and documents taken pos- session of under this section, as far as practicable, in the presence of the licensee or his authorized representative;
(e) the licensee or any person other than a licensee, as the case may be, shall be liable to account to the Board for all property and assets and also for any books of account, registers or documents comprised in the undertaking which he has failed to deliver to the Board under Cl. (c);
(f) the owner of every undertaking shall, within sixty days from the appointed day or within such further time as the Board may allow in that behalf, furnish to the Board or to such officer as the Board may specify, complete particulars of all liabilities and obligations incurred on the security of the undertaking and subsisting on the appointed day, and also of all agreements and other instruments, pertaining to the undertaking (including agreements, decrees, awards, standing orders and other instruments relating to leave, pension, gratuity, provident fund and other terms of service of any person employed in the undertaking) in force immediately before the appointed day and the Board shall afford him all reasonable facilities for the same;
(g) the following provisions shall govern the working in the undertaking immediately before the appointed day:
(i) every person who has been immediately before the appointed day in the employment of the licensee shall become on and from the appointed day an employee of the Board or the same terms and conditions and with the same rights as to pension, gratuity and other matters as would have been admissible to him if the undertaking had not been transferred to and vested in the Board and continue to do so unless and until his employment under the Board is terminated or until his remuneration or other terms and conditions of employment are duly altered by the Board:
Provided that the Board may appoint an officer or committee to review the genuineness of all appointments made or increments of wages or salary given to the employees within the period of one year immediately preceding the appointed day, and if after considering the report of any such officer or committee and any representations that may be received in that behalf from the person effected, an appointment made or increment given does not appear to the Board to be genuine it may terminate the service of such employee or cancel the increment, as the case may be :
Provided further that any person aggrieved by the decision of the reviewing officer or the committee, as the case may be, may appeal to the Board whose decision shall be final.
(ii) The Board may appoint an officer or committee for the purpose of fitment of the employees taken over from the licensee under sub-clause (i) in the scales of wages or salary of the Board having regard to the qualifications, experience and existing wages or salary of such employees and the wages or salary structure of comparable employees in the Board.
(iii) Notwithstanding anything contained in the U.P. Industrial Disputes Act, 1947 (U.P. XXVIII of 1947), or in any other law for the time being in force, the transfer of any employee to the Board under sub-clause (i) shall not entitle any such employee to any compensation under that Act or any other law and no claim shall be entertained by any Court, Tribunal or other authority.
(iv) For the avoidance of doubts it is hereby declared that nothing in sub-clause (iii) shall be construed to affect that right of any employee whose services are terminated under sub-clause (i) to claim compensation, if admissible, from the licensee under Secs. 6-N and 6-0 of the U.P. Industrial Disputes Act, 1947 (U.P. Act XXVIII of 1947);
(h) the Board shall pay to the licensee an amount determined in accordance with the provisions of Sec. 7-A:
Provided that the licensee shall in addition to the said amount, be entitled to interest thereon at the Reserve Bank rate ruling at the appointed day plus one per centum for the period from the appointed day to the date of payment of the said amount." (U.P. Act 14 of 1976, Sec. 3 (w.e.f. 27th November, 1976)].