Section 1. The following net worth requirements shall be applicable for an auction of mining lease depending on the Value of Estimated Resources,

11. The Bank undertakes not to revoke this Guarantee during its currency except with the previous consent of the Director, Mines /Deputy Commissioner in writing. 1. The following net worth requirements shall be applicable for an auction of mining lease depending on the Value of Estimated Resources,— - (a) If the Value of Estimated Resources is more than Rupees 10 (Ten) Crores, the applicant, including an individual, shall have a net worth more than 4% of Value of Estimated Resources. - (b) If the Value of Estimated Resources is less than or equal to Rupees 10 (Ten) Crores, the applicant, not being an individual, shall have a net worth more than 2% of Value of Estimated Resources. - (c) If the Value of Estimated Resources is less than or equal to Rupees 10 (Ten) Crores, the applicant, being an individual, shall have a minimum net worth of 1% of the Value of Estimated Resources. - 2. In case of auction of Composite Licence, the applicant must have a net worth of more than 1% of the Value of Estimated Resources. Explanation: - (1) In case an applicant is a subsidiary of another company incorporated in India, the net worth of such holding company may also be considered: Provided that, in such case, the applicant must continue to be a subsidiary of such holding company until such time the applicant meets the aforementioned net worth threshold. - (2) In case of a Company, the Net worth shall be the sum of paid up share capital and the free Reserves as per the audited Balance Sheet of the immediately preceding financial year. - (3) In case of an individual, the Net worth shall be the closing cash balance on the last date for submission of application, and such amount may include amount in Savings Bank accounts in Scheduled Bank/ Post Office, free and un-encumbered Fixed Deposits in Scheduled Banks, Post Office, Listed Companies/Government Organisation/Public Sector Undertaking of State and Central Government, Kisan Vikas Patra, National Saving certificate, Bonds, Shares of Listed Companies, Listed Mutual Funds, Unit Linked Insurance Plan, Public Provident Fund, Surrender Value of Life Insurance policies in the name of Applicant. By order of Governor of Jharkhand Sunil Kumar Barnwal, Secretary of Government. SCHEDULE II Format of Performance Security [See rules 12(2)] [Reference number of the bank] [date] To The Director, Mines/ Deputy Commissioner [address] WHEREAS 1. The Bank for the purpose hereof unconditionally and irrevocably undertakes to pay to the Director, Mines /Deputy Commissioner without any demur, reservation, caveat, protest or recourse, immediately on receipt of first written demand from the Director, Mines /Deputy Commissioner, a sum or sums (by way of one or more claims) not exceeding the Guarantee Amount in the aggregate without the Director, Mines /Deputy Commissioner needing to prove or to show to the Bank grounds or reasons for such demand for the sum specified therein and notwithstanding any dispute or difference between the Director, Mines /Deputy Commissioner and Successful Bidder on any matter whatsoever. The Bank undertakes to pay to the Director, Mines /Deputy Commissioner any money so demanded notwithstanding any dispute or disputes raised by the Successful Bidder in any suit or proceeding pending before any court or tribunal relating thereto the Bank's liability under this present being absolute and unequivocal. A. [Name of the Successful Bidder] incorporated in India under the Companies Act, [1956/2013] with corporate identity number [CIN of the Successful Bidder], 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] (the "Successful Bidder") 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"). B. The Performance Security is required to be provided to The Director, Mines/ Deputy Commissioner of [Name of District], for discharge of certain obligations under the Tender Document dated, [date] with respect to auction of [particulars of auction] and the Mine Development and Production Agreement to be executed between the Director, Mines /Deputy Commissioner and the Successful Bidder (collectively the "Agreement"). C. We, [name of the bank] (the "Bank") at the request of the Successful Bidder do hereby undertake to pay to the Director, Mines/ Deputy Commissioner an amount not exceeding INR [figures] (Indian Rupees [words]) ("Guarantee Amount") to secure the obligations of the Successful Bidder under the Agreement on demand from the Director, Mines /Deputy Commissioner on the terms and conditions herein contained herein. NOW THEREFORE, the Bank hereby issues in favour of the Director, Mines /Deputy Commissioner this irrevocable and unconditional payment bank guarantee (the "Guarantee") on behalf of the Successful Bidder in the Guarantee Amount: