Section 1Note in The Minerals (Transfer of Mining Lease Granted Otherwise than through Auction for Captive Purpose) Rules, 2016
1Note.
: To be modified if the Transferee is not a company.Mentioned only for companies, the format to include individuals/ other applicants alsoB. The Performance Security is required to be provided to The Governor of [Name of State], (the "State") for discharge of certain obligations under the [reference to the principal documents -prospecting licence/mining lease, mine development and production agreement] dated, [date] with respect to [particulars of concession] (collectively the "Concession Document").C. We, [name of the bank] (the "Bank") at the request of the Transferee do hereby undertake to pay to the State an amount not exceeding INR [figures] (Indian Rupees [words]) ("Guarantee Amount") to secure the obligations of the Transferee under the Concession Document on demand from the State on the terms and conditions herein contained herein.Now Therefore, the Bank hereby issues in favour of the State this irrevocable and unconditional payment bank guarantee (the "Guarantee") on behalf of the Transferee in the Guarantee Amount:
