Aggrieved over hefty fees on transfer of leases, miners want waiver

Prior to formulation of the revised MMDR Act, the change in hands at mines happened seamlessly without any financial burden

Aggrieved over hefty transfer fees charged on change in ownership of mining leases, the miners have asked for a waiver.

Prior to the formulation of the revised Mines and Minerals-Development & Regulation (MMDR) Act 2015, the change in hands at mines happened seamlessly without any financial burden. But post its enactment; lessees have to shell out 80 per cent of royalty as fees for ownership transfer.

“Transfer of all the leases should therefore be permitted without any additional financial implications as was prevalent prior to enactment of MMDR Amendment Act, 2015. Mergers and acquisitions are the integral components of the business and