Over the last couple of decades, there has been a concerted push by the Government to enhance India’s renewable energy capacity. With the focus to gradually shift from fossil fuel to clean energy fo...
Published On: 01/06/2016
Practice Area: Projects & Project Finance, Energy, Infrastructure & Natural Resources
Authors:
Ran Chakrabarti
Anubha Sital
Shaima Khan
The Central Government has, on May 30, 2016, notified the Minerals (Transfer of Mining Lease Granted Otherwise than through Auction for Captive Purpose) Rules, 2016 (the "Rules"). The Rules are a step forward towards enabling existing holders of mining leases (which were granted otherwise than through auction and being used for captive purpose) to transfer those leases to persons that meet the prescribed criteria. This move is aimed to facilitate distressed companies to make a smooth exit and to address the concerns of banks and other financial institutions that have invested in such companies.
