Section 96(1) in The U.P. Minor Minerals (Concession) Rules, 1963
(1)An applicant for a mining lease shall, before the deed referred to in rule 99 is executed and in such manner as the State Government may by order specify deposit as security, for the due observance of the terms and conditions of the lease, a sum equal to twenty five percent of the annual deadrent of the leased area subject to the Minimum of Rs. 50,000.00 (fifty thousand rupees) and no interest shall be payable on such security deposit.
