Parliament passes Mines and Minerals Amendment Bill, 2016

The Parliament has passed Mines and Minerals (Development and Regulation) Amendment Bill, 2016. The bill will allow transfer of captive mines from one allottee to another without auction. 

This will enable banks and financial institutions to sell stressed assets to recover debts. The Bill replaces the Mines and Minerals (Development and Regulation) Amendment Ordinance, 2015 promulgated on January 12, 2015. 

The Bill provides for transfer of mining leases, which have been granted through procedures other than auction and where minerals are used for captive purpose and provision will allow for merger and acquisition of companies with captive mining leases.

So lets do:
1.  Parliament passes _____________ Bill, 2016. 

Source – The Hindu

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