Section 12A(3) in The Mines And Minerals (Development And Regulation) Act, 1957
(3)If the State Government does not convey its previous approval for transfer of such mining lease or composite licence, as the case may be, within a period of ninety days from the date of receiving such notice, it shall be construed that the State Government has no objection to such transfer:Provided that the holder of the original mining lease or composite licence shall intimate to the State Government the consideration payable by the successor-in-interest for the transfer, including the consideration in respect of the prospecting operations already undertaken and the reports and data generated during the operations.
