Lok Sabha to take up mining, real estate Bills

Minister of Steel and Mines Narendra Tomar will make a statement in Parliament about Mines and Minerals (Development and Regulation) Act of 2015, on Monday

While there are only three days before the Budget session of Parliament goes into a 40-day recess, the government hopes to finish the pending business, including passage of the Real Estate (Regulation and Development) Bill, 2016, in the Lok Sabha.

In the House on Monday, Minister of Steel and Mines Narendra Tomar will make a statement regarding the Mines and Minerals (Development and Regulation) Act of 2015. The Cabinet on Thursday had given approval to amend the Act, to allow transfer of captive mining leases not granted through auction.

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Such transfers would allow mergers and acquisitions of companies and facilitate ease of doing business, also cutting costs for those dependent on supply of mineral ore from such leases. The transfer provisions will also facilitate banks and financial institutions to liquidate stressed assets where a company or its captive mining lease is mortgaged. The 2015 law, it said, was coming in the way of all this.

The Lok Sabha will also take up the Real Estate Bill, while the Rajya Sabha will take up a discussion on the Aadhaar Bill and the Whistle Blowers Protection (Amendment) Bill, 2015. It being a money Bill, the Rajya Sabha cannot vote on the Aadhaar Bill that was passed by the Lok Sabha on Friday. The Whistle Blowers Bill has already been passed by the Lok Sabha.

The Insolvency and Bankruptcy Code, 2015, will come up for passage in the second half of the session that begins on April 25. The Bill, introduced by Finance Minister Arun Jaitley in the Lok Sabha on December 21, is currently with a standing committee, which is to give its report by April 29.