Amendment status not verified — confirm the current text below against the official source.
Where the State Government is of opinion that any licensee has on or after the appointed day disposed of any fixed asset whether by way of sale, exchange, gift, lease or otherwise or incurred capital expenditure otherwise that in the normal course of events with a view to benefit unduly the licensee or some other person and thereby caused loss to the State Government as succeeding owners of the undertaking, the State Government shall be entitled to deduct from the compensation, payable to the licensee under this Act, an amount which it considers to be the loss sustained by it : Provided that notice of the intention of make such deduction shall be or shall have been given to the licensee within one year from the vesting date.