Draft Mines and Minerals (Development and Regulation) (Amendment) Bill, 2016

Ministry of Mines has released draft Act, 2016 to amend the Mines and Minerals (Development and Regulation) Act, 1957. Comments and suggestions on the Bill are being received by the Ministry till 26th January, 2016. The Bill inserts a provision allowing transfer of captive mining leases not granted at auction. Such is aimed at providing banks and creditors of a company the means to liquidating stressed, mortgaged assets of a company.

Tags : Captive mining lease auction transfer

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