Patents Act, 1970
(1) If the Central Government is satisfied in respect of any patent or class of patents in force that it is necessary or expedient in the public interest that compulsory licenses should be granted at any time after the sealing thereof to work the invention or inventions, it may make a declaration to that effect in the Official Gazette, and thereupon the following provisions shall have effect, that is to say-
(i) the Controller shall on application made at any time after the notification by any person interested grant to the applicant a license under the patent on such terms as he thinks fit;
(ii) in setting the terms of a license granted under this section, the Controller shall endeavor to secure that the articles manufactured under the patent shall be available to the public at the lowest prices consistent with the patentees deriving a reasonable advantage from their patent rights.
(2) The provisions of sections 92, 93, 94 and 95 shall apply in relation to the grant of licenses under section 84.