(1) The State Government may, if in its opinion the public interest so requires 1[ and after consulting the State Electricity Board], revoke a license in any of the following cases, namely:-
where the licensee, in the opinion of the State Government, makes wilful and unreasonably prolonged default in doing anything required of him by or under this Act;
where the licensee breaks any of the terms or conditions of his license the breach of which is expressly declared by such license to render it liable to revocation;
where the licensee fails, within the period fixed in this behalf by his license or any longer period which the State Government may substitute therefor by order under 2[ section 4A, sub- section (1)], and before exercising any of the powers conferred on him thereby in relation to the execution of works,-
to show, to the satisfaction of the State Government, that he is in a position fully and efficiently to discharge the duties and obligations imposed on him by his license, or
to make the deposit or furnish the security required by his license;
3[ where in the opinion of the State Government the financial position of the licensee is such that he is unable], fully and efficiently to discharge the duties and obligations imposed on him by his license;
1[ where a licensee, in the opinion of the State Government, has made default in complying with any direction issued under section 22A].