Speak now

(1) These rules may be called the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession (Amendment) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016, after rule 23, the following rule shall be inserted, namely:— “23A. Transfer of letter of intent for grant of mining lease or composite licence in certain cases.— (1) The letter of intent issued upon auction for grant of mining lease or composite licence in accordance with the provisions of the Mineral (Auction) Rules, 2015 may be transferred in the manner specified in this rule in cases where the State Government is satisfied that such transfer of letter of intent to the transferee (the “transferee”) is necessary consequent to conclusion of insolvency, liquidation, or bankruptcy proceedings, as the case may be, in respect of the original holder of the letter of intent (the “transferor”) by the competent tribunal or the court under the provisions of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).