India's economic growth likely to pick up soon, says Morgan... We should remove exemptions and deductions in a phased manner,... Coronavirus News LIVE Updates: Bangladesh receives first... Stove Kraft will be debt free post IPO, says CMD Rajendra Gandhi. This Guarantee is subject to the laws of India. Please tell me about a Lawyer in … The Transferor has supplied to the Transferee the original or certified copies of all plans of abandoned workings in the area and in a belt sixty five metres wide surrounding it. there application for transfer of the present mining lease specifying therein the amount that they have already taken as consideration from the transferee. 5. Explanation – For the purpose of this clause, - (a) Violation of any rules, other than the rules made under section 23C of the Act, within the mining lease area by a holder of a mining lease shall not include illegal mining. Now this Deed Witnesseth as Follows: KOLKATA: The mines ministry has notified draft rules on terms and conditions and the transfer charges for transfer of mining lease (ML) granted otherwise than through auction for captive purposes through the MMDR (Amendment) Act, 2016. To[Address]I/ We request for seeking transfer of mining lease. Documents are considered submitted the day they are received. For mining and petroleum lease: have been paid For assessable transfer applications: Assessment by the Office of State Revenue has been made and if applicable transfer duty has been paid (Not applicable for mining lease application) For small scale mining activity exploration . Mining leases are granted and administered under Chapters 6 and 7 of the Mineral Resources Act 1989 (“the Act”) and Chapter 2, Part 4 of the Mineral Resources Regulation 2013 (“the Regulation”). For applications lodged from 25 October 2018, if you are unable to reach an agreement, either you or the landholder can, at any time, refer disputes to the Land Court for a decision. Whereas Resource authorities include: authorities to prospect; exploration permits, prospecting permits, mining claims, mineral development licences and mining leases; geothermal exploration permits; greenhouse gas (GHG) exploration permits. To Therefore, in the wake of distressed M&A gathering steam after the notification of the Insolvency and Bankruptcy Code 2016, it has become all the more pertinent for deals involving acquisition of companies having captive mining leases, to understand the scope of the term ‘transfer’ and whether indirect transfer would constitute a transfer under the MMDR Act, thereby triggering the requirement for government approval. The judgement is still out on what would fall under the ‘transfer’ bucket in the MMDR Act and what would not. - (1) Whenever royalty is payable in terms of the Second Schedule to the Act, the transferee shall in addition to the royalty, pay to the State Government as transfer charges the amount given in Schedule IV appended to these rules, as a per cent. The Transferor and the Transferee declare that they have ensured that the mineral rights over the area for which the mining lease is being transferred vest in the State Government. Full transfer Multiple mining leases may be nominated if you wish to transfer in full. Any change in such corporate authorisation must be immediately intimated to the State Government. Breaking News. 3.8. Note:If a Seller needs to transfer a claim, the Buyer needs to be registered. 3. In case the applicant is an individual, the applicant must personally sign the application. The Transferee hereby declares that he/ it has accepted all the conditions and liabilities which the Transferor's was having in respect of such mining lease. An overview of legal and practical considerations surrounding mining rights and title in India, including the extent of state control, renewal and transfer of licences, and protection of rights. (6) The transferee shall, within fifteen days of making the upfront payment in sub-rule (4), sign the Mine Development and Production Agreement in the format published by the Government of India in the Ministry of Mines, vide Part I, Section-I of the Gazette of India, dated the 2nd July, 2015 with the State Government. 11/2017 (Rate), dated 28.06.2017, attracting GST at the same rate as applicable for the supply of like goods involving transfer of title in goods, … For and on behalf of the Transferor: For and on behalf of the State Government: (Name of the individual with address and occupation) (hereinafter referred to as the "Transferor" which expression shall where the context so admits be deemed to include his heirs, executors, administrators, representatives and permitted assigns); or, Name of the association of individuals through (Name of member with address and occupation) and (Name of member with address and occupation) or (Name of the representative with address and occupation who has been duly authorised by all members) (hereinafter referred to as the "Transferor" which expression shall where the context so admits be deemed to include their respective heirs, executors, administrators, representatives and their permitted assigns); or, Name of the partnership firm through (Names and addresses of all the partners) or (name of the representative with details of address and occupation who has been duly authorised by all partners) all carrying on business in partnership under the firm name and style of (Name of the firm) registered under the Indian Partnership Act, 1932 (9 of 1932) and having their registered office at [address] (hereinafter referred to as the "Transferor" which expression where the context so admits be deemed to include all the said partners, their respective heirs, executors, legal representatives and permitted assigns; or, (Name of Company), a company registered under the (Act under which incorporated) and having its registered office at [address] represented by (Name of the Director with address who has been authorised by the Board of Directors) (hereinafter referred to as the "Transferor" which expression shall where the context so admits be deemed to include its successors and permitted assigns) of the first part; And, 2. Discussion was also held on strategies to simplify transfer of mining leases and promote exploration and mining activities," Joshi said in a tweet. 3.6. The State government on Tuesday decided to do away with the practice of transfer of mining leases with a view to curb illegal activities. As noted by the Ministry of Mines in March, the “central government received representations from industry associations stating that the said sub-section has … 6. 2. RECITALS . 39 Modal Form For Transfer of Mining Lease 15. The government of India has notified the Minerals (Transfer of Mining lease Granted otherwise than through Auction for Captive Purpose) Rules, 2016. That the mining lease license still continues in the name of M/s. The Transferor hereby declares that he/ it has not assigned or in any other manner transferred the mining lease now being transferred and that no other person or persons has any right, title or interest where under in the present Mining Lease being transferred. TerraCom subsidiary Orion Mining has received formal indicative approval from Queensland's Department of Natural Resources and Mines (DNRM) to transfer the mining lease of Blair Athol Coal Mine in Australia. The transferee hereby convenants with the State Government that from and after the transfer and assignment of the lease the transferee shall be bound by, and be liable to perform, observe and confirm and be subject to all provisions of all the covenants stipulations and conditions contained in said here in before recited lease in the same manner in all respects as if the lease has been granted to the transferee … Four gadgets you should invest in for good health. (3) The transferee shall pay royalty or dead rent to the State Government as specified in the Act and the rules made thereunder. You must also register if you are a land manager or an agent representing a claimholder. Therefore, Rs.17.90 crores paid to Sri K.P. V. The transferee further declares that he is financially capable of and will directly undertake mining operations. Therefore, he came to the conclusion that in order to avoid tax, the assessee has created an artificial transaction between MEL and Sri K.P. B. 3. UNDP Jamaica Small Grants project proposal adver National Minerals Week No Gold Mining … After the unearthing of a series of scams, transfer and allotment of mining leases has been a legislative focus as part of the central government’s clean-up drive of the mining sector. under renewal. (3) Any approval for transfer of a mining lease granted otherwise than through auction which is being used for captive purpose shall be subject to the following conditions, namely:– The Governor of [Name of State] 13. 17 of Notification No. 3.2. That person is probably the owner of the surface land. address: Hope Gardens, Kingston 6 phone: (876) 927-1936 e-mail us: Click Here. Centaurus Metals (ASX Code: ) is pleased to CTM advise that the formal transfer of the Mining Lease Application covering its 100%-owned Jaguar Nickel Sulphide Project in north-eastern Brazil from Vale Metais Básicos S.A. (“Vale”) to Centaurus’ Brazilian subsidiary, Aliança Mineração Ltda(“Aliança”) , has been completed. 3 Rule 1-2-3 Chapter - I CHAPTER - I Preliminary 1 Short title, extent and commencement:-(1) These rules may be called The Rajasthan Minor Mineral Concession Rules, 1986. Minerals (Transfer of Mining Lease Granted Otherwise than through Auction for Captive Purpose) Rules, 2016. Conditions for transfer. In terms of the Concession Documents, the Transferor is entitled to search for, win and work mines and minerals in respect of (Name of minerals) in the lands described in the schedules to the Concession Documents (more particularly set out in Annexure B), for the term and subject to the payment of the rents and royalties and observance and performance of the Transferor's covenant and conditions in the Concession Documents including a covenant not to transfer the mining lease in violation of applicable laws. 5. MoEF File No. All rights reserved. He must file the application for renewal before the 60 th day preceding the expiry of the mining lease. The Transferor has paid all the rent, royalties, and other dues towards the State Government till the date, in respect of the mining lease. [Name] incorporated in India under the Companies Act, [1956/2013] with corporate identity number [CIN of the Transferee], whose registered office is at [address of registered office], India and principal place of business is at [address of principal place of business, if different from registered office]1 (the "Transferee") is required to provide an unconditional and irrevocable bank guarantee for an amount equal to INR [figures] (Indian Rupees [words]) as a performance security valid until [date of expiry of performance bank guarantee] ("Expiry Date"). These Rules also provide that such transfer may only … Proposal Name Subject Date of FC Granted New Status Date of Transfer Transfer Letter; 1. a. the liability of the bank under this bank guarantee shall not exceed the Guarantee Amount. Currently, you can only make an online request for an exclusion of time if you have an early exploration permit application that is on temporary hold, for a mining claim that is in good … a transfer, or agreement to transfer, a lease, unless there is a consideration paid for the transaction; a transfer, or agreement to transfer, a security interest where the consideration for the transfer is equal to or greater than the market value of the security interest ; a transaction over a unit in a unit trust. (2) They shall extend to the whole of the State of Rajasthan including the areas in which Bapi and proprietary rights are claimed. Capitalised terms used but not defined in this Deed shall, unless the context otherwise requires, have the respective meanings ascribed thereto in the Concession Documents. A total of two (2) unpatented lode mining claims, also known as the BC#1 and BC#3, located in Section 15, Township 48 N, Range 3, … (a) The application must be signed by a duly authorised representative of the applicants, in case the applicant is a company. Provided that no such order shall be made without giving the holder of the mining lease a reasonable opportunity of stating his case. - (1) The holder of a mining lease, granted otherwise than through auction which is being used for captive purpose, may apply to the State Government for transferring the mining lease to any person satisfying the … Wrapping 2020 with a subtle depreciation- What’s on the cards for the Rupee in 2021? Chhattisgarh: FP/CG/MIN/831/2010: 8-91/2010-FC . Related Activities: Claim Administration, Claim Transfer, Coal Information, Free miner certificate, Hand Panning, Lease Administration, Mineral Records, Mineral Title Complaint, Mineral Title Liens - Registrations, Mining Mediation, Mining … *T&C apply. of the royalty paid in terms of Second Schedule to the Act. Transfer duty is charged on transactions involving resource authorities. 19 November 2009 For our organisation I want to transfer an iron ore mine, which is to be expired within months i.e. Full transfer Multiple mining leases may be nominated if you wish to transfer in full. You might own many different kinds of minerals on a plot of land. transfer of mining lease This query is : Resolved Report Abuse Follow Query Ask a Query . Transferring a lease or licence. The government, however, would allow transfer … Chhattisgarh: FP/CG/MIN/831/2010: 8-91/2010-FC . Transfer of mining lease. G.S.R. 3. Mining News - Published on Mon, 26 Jun 2017. - (1) In these rules, unless the context otherwise requires, - If you cannot find them, then contact the party you contracted with. (Bank Stamp) 1Note: To be modified if the Transferee is not a company. In the Gotan Case, the court relied on the ‘substance over form’ argument while distinguishing between a real share sale transaction and an apparent transaction structured with the intent of bypassing the transfer regime under the MMDR Act. 3.4. Notwithstanding anything contained herein, unless a demand or claim under this guarantee is made on the Bank in writing on or before the Expiry Date the Bank shall be discharged from all liability under this guarantee thereafter. 11. The Bank agrees that State at its option shall be entitled to enforce this Guarantee against the Bank, as a principal debtor in the first instance without proceeding at the first instance against the Transferee. A lease is maintained by payment of the annual rental of $20 per hectare for a mining lease or $20 per hectare for a surveyed placer lease. The amendment also expands the powers of the Central Government to make rules under this Act. ©TV18 Broadcast Limited. Mining leases are granted and administered under Chapters 6 and 7 of the Mineral Resources Act 1989 (“the Act”) and Chapter 2, Part 4 of the Mineral Resources Regulation 2013 (“the Regulation”). Determine which minerals to transfer. Application for renewals should be submitted at the Office of the Registrar. VI. Approval is subject to certain conditions for … TRANSFER OF JAGUAR MINING LEASE APPLICATION COMPLETED . A. Joshi had recently said that many reforms are in pipeline in the mining sector. (7) The transferee shall, within fifteen days of signing the Mine Development and Production Agreement in sub-rule (6), provide a performance security to the State Government in the form of a bank guarantee as per the format given in Schedule II appended to these rules or as a security deposit, for an amount equivalent to 0.50 per cent. C. We, [name of the bank] (the "Bank") at the request of the Transferee do hereby undertake to pay to the State an amount not exceeding INR [figures] (Indian Rupees [words]) ("Guarantee Amount") to secure the obligations of the Transferee under the Concession Document on demand from the State on the terms and conditions herein contained herein. ______________________ Press Releases . Image Source: business-standard.com. 1. Poddar and transferred the funds to his personal account. partial transfer of a mining lease Form AD3, Mining Act 1992 Regional NSW | DOC20/429514 - July 2020 | 3 1 Type of transfer Indicate if you are requesting a full or partial transfer. Short title and commencement. A mining lease is granted for a period of 50 years and cannot be renewed. Interestingly, there are various deals in the market that are hinged on this understanding. Supreme Court rejects Plea seeking ‘Free and Fair’ Elections in West Bengal, NUJS-SACJ Organizes Quiz Competition on Criminal Law: Register by 10 Feb, 2021, रोशनी कानून पर अदालत के फैसले को चुनौती देने वालों के खिलाफ नहीं होगी दंडात्मक कार्रवाई, High Court directs release of amount of ITC available in the credit Ledger Account, जिस 'बच्चे' के चक्कर में काट रहा था सजा, वह उसका नहीं निकला, डीएनए रिपोर्ट ने ऐसे दिलाई जमानत, Supreme Court bench sought in South India citing Article 130, सुप्रीम कोर्ट ने विधि आयोग के लिए चेयरपर्सन की नियुक्ति पर केंद्र सरकार से मांगा जवाब, Bombay High Court rejects bail plea by Yes Bank founder Rana Kapoor, मरने के 20 साल बाद कोर्ट ने आरोपों को किया बरी, जिंदा बुजुर्ग को मरा बताकर बंद की पेंशन. ______________________ ARUP CHAKRABORTY (Querist) 19 November 2009. 39 Modal Form For Transfer of Mining Lease 15. For example, Nirma Limited proposed to buy Lafarge India’s cement assets from LafargeHolcim through an asset sale, but in light of the ambiguity around transfer of mining leases, the structure was later modified to a 100 percent share sale (based on the interpretation that a 100 percent share sale does not constitute transfer under the MMDR Act). Mining industry worried over charges on transfer of captive mining lease (1A) The State Government shall not give its consent to transfer of mining lease unless the transferee has accepted all the conditions and liabilities which the transferor was having in respect of such mining lease. ______________________ (2) The transferee shall make payments of the transfer charges as referred to in sub-rule (1), to the State Government simultaneously with payments of royalty. 4. (c) Documentary evidence to confirm eligibility of the transferee to hold the mining lease in accordance with the provisions of the Act and the rules made thereunder, must be submitted along with the application. Instructions to applicants: Any payment made hereunder shall be made free and clear of and without deduction for, or on account of, any present or future taxes, levies, imposts, duties, charges, fees, commissions, deductions or with-holdings of any nature whatsoever. G.S.R. Name: For and on behalf of the Transferee: Subscribe to Moneycontrol Pro at ₹499 for the first year and get access to exclusive offers. Other than for captive use, non-auctioned mining leases cannot be transferred by the lease holder. (2) The State Government shall, within a period of ninety days of receipt of the application made under sub-rule (1), convey its decision to approve or reject such application for transfer to both the transferor and the transferee: Determine which minerals to transfer. (Format of Application for Transfer of Mining Lease). Payment can be made by credit card, in cash, by cheque or by money order payable to the … The State may, with prior intimation to the Bank, assign the right under this Guarantee to any other departments, ministries or any governmental agencies, which may act in the name of the Governor. 2. The Bank further agree that the guarantee herein contained shall remain in full force and effect during the period that specified in the Concession Document and that it shall continue to be enforceable till all the obligations of the Transferee under or by virtue of the said Concession Document with respect to the Performance Security have been fully paid and its claims satisfied or discharged or till the State certifies that the terms and conditions of the Concession Document with respect to the Performance Security have been fully and properly carried out by the Transferee and accordingly discharges this guarantee. Obtaining government approval for transfer of mining leases is a time-consuming process and involves payment of massive transfer fees. It further held that where a corporate entity is used to conceal real transaction of transfer of a mining lease for consideration without statutory consent, lifting of the corporate veil is necessary. The draft rules, inviting comments & suggestions from general public and carious other stakeholders by May 25, 2016, have been posted on the ministry's website. If you are trying to transfer a right to royalties or a lease, then you should look for a royalty or lease agreement. Transfer of Forest Clearances to New Lease Holders as per Ministry of COAL's Vesting Orders: S.No. Save as provided in this Clause 12, this Guarantee shall not by assignable or transferable. 2. 5. The Governor of [State] (hereinafter referred to as the "State Government" which expression shall where the context so admits be deemed to include the successors and assigns) of the third part. Inordinate Delay in SC Panel report on Law violations hits Mining auction in this State. MoEF File No. The owner of a claim must also perform yearly assessment work.A mining claim can be converted into a lease. B. v. Gotan Lime Stone Khanji Udyog Pvt Ltd and Ors (Gotan Case) (AIR 2016 SC 510). Reliance may be placed on the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules 2016 which provide a wide and inclusive definition of ‘transfer’ and state that ‘transfer’ is defined broadly enough to cover indirect transfers. (e) on and from the date of transfer of the mining lease, the transferee shall be bound by the provisions of the Act and the rules made thereunder. Further, the transfer of such mining lease would be subject to the transfer of the conditions and liabilities which form part of the consents, approvals and permits. Deepchand Kishanlal and there is no change. Transfer of a mining lease is tedious work in India. Further, the transfer of such mining lease would be subject to the transfer of the conditions and liabilities which form part of the consents, approvals and permits. Obtaining government approval for transfer of mining leases is a time-consuming process and involves payment of massive transfer fees. But the 2015 amendment created unease for companies with captive mining leases. The transfer process for leases has been amended to introduce an exemption from needing approval for a transfer for certain leaseholders. A mining claim grants its owner the exclusive rights to explore for minerals on a designated piece of land. Annexure A: Transfer charges payable by the transferee shall be an amount equal to eighty per cent. Subsequently, the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act) was amended in 2015 making it compulsory for the government to issue or transfer mining leases for notified minerals only through an auction by a competitive bidding process (including e-auction). That certain Mining Lease Agreement made effective the day of 2002, by and between United Mines, Inc. and Sterling Mining Company. Dated the [day] day of [month] [year]. 3.5. 11/04/2011. It is not controlled by Companies Act. D. The State Government has, pursuant to its letter dated [date] approved the transfer application of the Transferor subject to compliance by the Transferee of the terms and conditions contained in this Deed. Learn about what type of title you need, how to apply for it and your obligations as a miner or producer. NMDC's Donimalai iron ore mine to be operationalised, Govt extends mining lease 04 Dec, 2020, 11.54 PM IST. Mines & Geology Division Ministry of Transport & Mining. 1. This could mean that a deal involving an acquisition of a company which holds a mining lease in addition to other significant assets may not fall foul of the Gotan Case test, as opposed to acquisition of a skeleton company whose only asset is a mining lease. (b) The corporate authorisation of the authorised signatory of the applicant (which is a company) must be enclosed with the application. A. You might own many different kinds of minerals on a plot of land. Applicability. Later in 2016, the MMDR Act was relaxed to permit government approved issuance and transfer of mining leases being ‘used for captive purpose’, without undergoing an auction process. Schedule III, (Format of Deed for Transfer of Mining Lease), The Transfer Deed ("Deed") is made on this [day] day of [month], [year] between: