Section 23(4)

Not-withstanding anything in this seclion, where- (a) the transfer scheme involves transfcr of any property or rights to any person or undertaking not wholly owned by the State Government, the scheme shall give effect to the transfer only for fair value to be paid by the transreree to the State Govcrnrnent; and (b) a transaction of any description is cffected in pursuance of a transfer scheme, it shall be binding on al! pcrsclns including third parties, oven if, such person3 or third parties have not consented to it.