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

Where, on the expiration of any of the periods referred to in section 24, neither the State Government nor any of its department or agency purchases the undertaking, and the license granted under section 10 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 it may think fit