The Mines and Minerals (Development and Regulation) Act, 1957

Sections

1. IV — MISCELLANEOUS
2. 1The following net worth requirements shall be applicable for an auction of mining lease depending on the Value of Estimated Resources,
3. 2The Director, Mines/Deputy Commissioner may, with prior intimation to the Bank, assign the right und
4. 3Notwithstanding anything contained herein,
5. 4The Bank is liable to pay the guaranteed amount or any part thereof under this bank guarantee only a
6. 5Any payment made hereunder shall be made free and clear of and without deduction for, or on account
7. 6The Bank agrees that Director, Mines /Deputy Commissioner at its option shall be entitled to enforce
8. 7The Bank further agree that the guarantee herein contained shall remain in full force and effect dur
9. 8The payment so made by the Bank under this Guarantee shall be a valid discharge of Bank's liability
10. 9This Guarantee is subject to the laws of India. Any suit, action, or other proceedings arising out o
11. 10Grant of Mining Lease
12. II — GRANT OF MINING LEASE
13. 11Upfront payment for mining lease
14. 12Performance security for mining lease
15. 13Payments under mining lease
16. 14Payment of Interest
17. 15Time Period
18. III —
19. 17Auction for Composite Licence
20. 18Grant of Composite Licence
21. 19Performance Security for Composite Licence
22. IV — MISCELLANEOUS
23. 20Power to rectify apparent mistakes
24. 21Exploration Obligation