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[Cites 0, Cited by 0] [Section 12(1)] [Section 12] [Entire Act]

Union of India - Subsection

Section 12(1)(b) in The Coal Mines (Special Provisions) Act, 2015

(b)in the event that the prior allottee is not a successful bidder or allottee, then the security interest of such secured creditor shall only be satisfied out of the compensation payable to such prior allottee, to the extent determined in accordance with such rules as may be prescribed and the outstanding debt shall be recoverable from the prior allottee.