Section 25 in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016
25. Encumbrance and enforcement of security interest.
(1)A person holding a transferable concession as provided in rule 23 shall be free to create any encumbrance over the transferable concession.(2)In the event of enforcement of security interest with respect to such encumbrance, the mineral concession shall be assigned only to such transferee who meets all the eligibility conditions which were required to be met by the transferor for grant of the mineral concession and in the manner as specified under rule 23:Provided that in such cases the creditors enforcing the security interest may submit the transfer application on behalf of the transferee.(3)No encumbrance shall be created over a mineral concession other than a transferable concession.
