Section 11B in Bihar Minor Mineral Concession Rules, 1972
11B. [ [Inserted by S.O. 398 dated 17.8.1991.]
(1)Every settlee of sand as minor mineral shall deposit the amount equivalent to ten percentum of auctioned amount as security for due observance of terms and conditions of settlement which shall be refunded after the expiry of the period of settlement by the Competent Officer unless the same will be withheld in part or in full by the Competent Officer for reasons to be recorded in writing including non-payment of mining dues.(2)Where the settlement is made by public auction, a deed shall ordinarily be executed in Form 'O' or in a Form as near thereto as circumstances of each case may require, of this Rule within 60 days of the order of the settlement and if no such deed is executed due to the failure on the part of the settlee the settlement order shall be deemed to have been revoked and security deposit and other amounts paid may be forfeited.]
