(1) The State Government may, if ill its opinion the public interest so require and after consulting the State Electricity Board, revoke a licence in any of the following cases, namely: -
(a) Where the licensee, in the opinion of the State Government, makes willful and unreasonably prolonged default in doing anything required of him by or under this Act;
(b) Where the licensee breaks any of the terms or conditions of his license the breach of which is expressly declared by such license to render it liable to revocation;
(c) Where the licensee fails, within the period fixed in this behalf by his license or any longer period which the State Government may substitute therefor by order under [Section 4A, subsection (1), and before exercising any of the powers conferred oil him thereby in relation to the execution of works. –
(i) To show, to the satisfaction of the State Government, that he is in a position fully and efficiently to discharge the duties and obligations imposed on him by his license, or
(ii) To make the deposit or furnish the security required by his license;
(d) Where in the opinion of the State Government the financial position of the licensee is such that he is unable fully and efficiently to discharge the duties and obligations imposed on him by his license;
(e) Where a licensee, in the opinion of the State Government, has made default in complying with any direction issued under Section 22A.
(2) Where in its opinion the public interest so permits, the State Government may, oil the application or with the consent of the licensee, and after consulting the State Electricity Board, and the Central Government where that Government is interested, and if the licensee is not a local authority, after consulting also the local authority, if any, concerned, revoke a license as to the whole or any part of the area of supply upon such terms and conditions as it thinks fit.
(3) No license shall be revoked under subsection (1) unless the State Government has given to the licensee not less than three months notice, in writing stating the grounds on which it is proposed to revoke the license and has considered any cause shown by the licensee within the period of that notice, against the proposed revocation.
(4) Where the State Government might under subsection (1) revoke a license it may instead of revoking the license permit it to remain in force subject to such further terms and conditions as it thinks fit to impose and any further terms or conditions so imposed shall be binding upon, and be observed by, the licensee, and shall be of like force laid effect as if they were contained in the license.