International ESG Day 2023: While certain concerns, like increased compliance costs and limited investment ecacy, have been raised regarding ESG, the importance of sustainable investing only increases...
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.
