The Industries (Development And Regulation) Act, 1951
12. Revocation and amendment of licenses in certain cases
(1) If the Central Government is satisfied, either on a reference made to it in this behalf or otherwise, their any person or authority to whom or to which, a licence has been issued under section 11, likes without reasonable cause, failed to establish or to take effective steps to establish the new industrial undertaking in respect of which the licence has been issued within the time specified therefore or within such extended time as the Central Government may think fit to grant in any case, it any revoke the licence.
(2) Subject to any rules that may be made in this behalf, the Central Government may also or amend any licence issued under section 11:
Provided threat no such power shall be exercised after effective steps little been taken to establish the new industrial undertaking in accordance with the licence issued in this behalf.
1[(3) The provisions of this section shall apply in relation to a licence issued under section 11 A or where a licence has been amended under that section, to the amendment thereof, as they apply in relation to a licence issued under section 11.]
1. Ins. by Act 26 of’ 1953, sec. 8 (w.e.f. 1-10-1953).