Section 48. Power of the State Government to purchase or takeover Ropeway.

(1) Where the Promoter is the State Government, the State Government may at any time transfer the undertaking or any part thereof to: (a) any other department or agency or public sector undertaking of the State Government; or (b) to any other person selected in accordance with the Applicable Law, under such terms and conditions as may be mutually agreed upon between the State Government and the transferee. (2) Where the Promoter is not the State Government or Agency of the State Government and subject to the provisions under section 46 and 47, after giving reasonable opportunity of being heard, the State Government may in public interest purchase or take over the ropeway as per the procedure and conditions that may be prescribed under the Rules.