Power of promoter to sell when option to purchase not exercised and order revoked by consent

Where, on the expiration of any of the periods referred to in section 26, neither the State Government nor local authority purchases the undertaking, and the order published under section 7 is, on the application or with the consent of the promoter, revoked, the promoter shall have the option of disposing of all lands, buildings, works, materials, plants and apparatus belonging to the undertaking in such manner as he may deem fit.