CCI nod to Setu AIF Trust to acquire stakes in Edelweiss Asset & Edelweiss Trusteeship (See 'Corp Brief') IPR - Mere adoption of product-by-process format would not result in novel product being downgraded to Section 48(b) of Patent Act: HC (See 'Legal Desk') CSIR hosts Capacity Building Workshop for Dissemination of Indian Knowledge System (See 'Corp Brief') Competition Act - issues pertaining to unauthorized business operations, public health & regulatory violations, not demonstrating any anti-competitive agreement or concerted action u/s 3 of the Act, cannot be looked into by CCI: CCI (See 'Legal Desk') 12 lakh Railway Employees working Day and Night during Festive Season: Vaishnaw (See 'Corp Brief') A&C - Restrictions contained in Code of Civil Procedure apply even in cases relating to enforcement of foreign arbitral awards: HC (See 'Legal Desk') Ministry of Mines introduces Timelines to Fast-track Operationalisation of Auctioned Blocks (See 'Corp Brief') RTI/IBC - Mechanism of the RTI Act cannot be commandeered for grievance redressal, policy suggestions, or compelling interpretations of prior responses: IBBI (See 'Legal Desk') Supreme Court Restores JSW's Resolution Plan in Bhushan Power Case: A Pragmatic Turn in IBC Jurisprudence (See CORP EINSICHT ) BSNL turns profitable after 18 Years: Scindia (See 'Corp Brief') IBC - Withdrawal of CIRP cannot be permitted merely on the basis of a unilateral settlement with one minor creditor, particularly when other bigger Financial Creditors oppose it: NCLT (See 'Legal Desk') Chouhan to meet Ministers of 11 Ministries for 'Pradhan Mantri Dhan-Dhaanya Krishi Yojana' (See 'Corp Brief') SEBI - PayTM founder held guilty of circumventing SEBI regulations to unlawfully grant ESOPs to self and brother by mis-representing promoter status and control - contravened disclosure & eligibility norms of SEBI - barred from accepting ESOPs for three-year period: SEBI (See 'Legal Desk') NITI Aayog's Women Entrepreneurship Platform and DP World launch 'We Rise' initiative (See 'Corp Brief') A&C - Mere pendency of formal signature by one party, when other party has signed agreement after reading its terms including arbitration clause, does not prevent parties from being referred to arbitration: HC (See 'Legal Desk') MoS unveils Curtain Raiser for 4-day India International Science Festival (See 'Corp Brief') PMLA - Secured creditor such as finance company not left without remedy, where properties acquired even prior to scheduled offence period are attached as value equivalent: SAFEMA Tribunal (See 'Legal Desk')

Mining Reforms: Govt receives large number of suggestions

Published: Sep 16, 2020

By TIOLCORPLAWS News Service

NEW DELHI, SEPT 16, 2020: There is no proposal to make illegal mining as legal. The Mines ministry has clarified this yesterday. Ministry of Mines had circulated the proposed reforms in the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 with different Central Government Ministries /Departments and also to the State Government for comments / suggestions.

Further, in order to give wide publicity to the proposed reforms, as per Pre-Legislative Consultation Policy, the Ministry hosted the notice dated 24.08.2020 along with a note explaining the provisions of proposals on the website of the Ministry of Mines for seeking comments / suggestions from the general public, Mining Industry, Stake Holders, Industry Associations and other persons and entities concerned.

A large number of comments / suggestions on the proposed reforms have been received in the Ministry in response to public consultation notice, which are being examined in detail.

Union Finance Minister had made announcement on 16th May, 2020 under Atmanirbhar Bharat scheme for enhancing private investments in the Mineral Sector and for bringing reforms in mining sector. In order to implement the announcements, Ministry of Mines has proposed the legislative amendments to the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 for undertaking structural reforms in mineral sector with the objective to accelerate growth and employment generations and also to stimulate the economic growth considering the dampening impact of COVID-19 pandemic.

The proposals include (i) Increasing mineral production and employment generation by redefining the norms of exploration for auction of mineral blocks and ensuring seamless transition from exploration to production; (ii) Resolving legacy issues to move towards an auction only regime for allocation of mineral resources; (iii) Removing the distinction between captive and non captive mines; (iv) Developing a transparent National Mineral Index; (v) Clarify the definition of illegal mining; and others.

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