Section 24: Licensee not to purchase, or associate himself with, other licensed undertakings.

(1) The licensee shall not, at any time without the previous consent in writing of the Commission acquire, by purchase or otherwise, the license or the undertaking of, or associate himself so far as the business of generating , transmitting, distributing or supplying energy is concerned with, any person generating, transmitting, distributing or supplying or intending to generate, transmit, distribute or supply, energy under any other license: Provided that before granting the consent the Commission shall hear such person or authority as the Commission may consider appropriate: Provided further that nothing in this sub-section shall be construed to require the consent of the Commission for the supply of energy by one licensee to another in accordance with the provisions of clause IX of the Schedule to the Indian Electricity Act 1910 (Central Act No. 9 of 1910). (2) The licensee shall not at any time assign his license or transfer his undertaking, or any part thereof, by sale mortgage, lease, exchange or otherwise without the previous consent in writing of the Commission. (3) Any agreement relating to any transaction of the nature described in sub-section (1) or sub-section (2), unless made with or subject to such consent as aforesaid shall be void.