Equipment Lease Agreement 2 Lessees premises and ii at the end of the Lease Term, of shipping the Equipment back to Lessors premises. 7. DEFAULTS If Lessee fails to perform or fulfill any obligation under this Agreement, Lessee shall be in default of this Agreement.
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A dies.before the affairs of the firm are completely wound up, the lease expires and B renews it. The renewed property is partnership property. Alder v. Fouracare. In this case A,B and C are partners. A agrees to take a lease in his own name, but in fact fact partnership purpose, and dies before the lease
It has also assisted the mining ministry with auction processes initiated by the government. Hotel Taj Mansingh, a property owned by NDMC, was given to Tata-owned Indian Hotels Company Ltd IHCL on lease for 33 years. The lease ended in 2011 and the company has been given seven temporary extensions since then on various grounds.
C. RETAINING POSSESSION OF PREMISES SUBSEQUENT TO DETERMINATION OF LEASE BY EFFLUX OF TIME - 1. Possession Retained by Lessee Section 108 q8 of the Act provides that, upon determination of a lease, the erstwhile lessee is obligated to put the lessor in possession of the property, even if there is no express covenant in the
I am also directed to say that in cases, where mining lease expires or has already expired within a period of 10 ten years from the date of grant of in-principle approval under the Forest Conservation Act, 1980, even if final approval under the aforementioned Act for diversion of ... Government of India. Secretary, Ministry of Coal ...
After the exploration licensing period expires, the operator must relinquish entire contract area to the government except places where discoveries have been made. Once discoveries have been appraised, a Development Area is carved out for which operator gets Petroleum Mining Lease PML that allows it to produce oil and gas from that area.
Preservation of mining rights. The holder of any block of base mineral, reef or placer deposit claims registered as precious metal or of any mining lease shall, within six weeks of registration, apply to the mining commissioner for and obtain a certificate of inspection in respect of work executed on the mining
India Investment Summit ... and were cited by the M.B. Shah Commission that looked into the issue of illegal mining as an example of how changes made in mining leases allowed some miners to ...
In the current context, the lease expires due to change in law. As per MMRDA Act, existing miners have to be given a six-month time to move out the mined material out of the mining
Joda Auction of mines, whose lease period expires March 31, 2020, has been completed in Joda mining circle of Keonjhar district while the process for other mines in ahead. The auction process will continue till February 18. Thereafter, the new lease holders will be handed out letter of intent to start mining
Barrick Gold of Canada and Zijin Mining Group of China have lodged a protest against the decision of the Papua New Guinea PNG government not to renew the operating lease for the Porgera gold mine. The mine, which is owned by Porgera Joint Venture and operated by Barrick Niugini Limited BNL, is an open pit and underground gold mine located ...
Port Moresby, Papua New Guinea Barrick Niugini Limited BNL, majority owner and operator of the Porgera gold mine in the Enga province of Papua New Guinea PNG, said today the Governments decision not to extend its Special Mining Lease was tantamount to nationalisation without due process and in violation of the Governments legal obligations to BNL.
BHUBANESWAR Targeting about Rs 1,000 crore additional earning from mining, Odisha government today instructed all district collectors not to allow operation of mines under deemed extension provision if they fail to deposit required stamp duty by July 9. It is necessary to ensure collection of the stamp duty from mining lessees who are availing the benefit of deemed extension of the lease ...
India may relax coal mining rules to promote investment from March 2020 Friday, January 10th, 2020 According to news in the last few days, an Indian minister said that from March, India will lift restrictions on domestic coal mining and relax bidding rules to attract global mining companies and reduce Indias imports of such fossil fuels.
years and on the expiry of the lease period, the lease shall be put up for auction. In the case of so-called captive mines, where the mineral is used for captive purpose, in case the 50-year period or current lease expires before 2030, the lease will be deemed to be valid till March 31, 2030.
DSF Round I India grants 18 oil and gas mining leases under revamped policy. The government has granted 18 Petroleum Mining Leases to winning bidders under DSF Round I and is in advanced stages of granting the rest, upstream regulator Directorate General of Hydrocarbons DGH said in a notice today. Bilal Abdi ETEnergyWorld
15 individuals and companies, including Jigme Mining Corporation Limited JMCL, which completed 15 years mining lease period on May 14, submitted their bidding documents to participate in the auction. However, five applicants were reportedly disqualified for not fulfilling the eligibility criteria set by the ministry. The Chunaikhola mines
Mining leases shall be granted for a non-renewable period of 50 years. To enable transit of the existing leases to the auction regime, the amendment provides that all existing leases shall be deemed to have been granted for a period of 50 years and on the expiry of the lease period, the lease
www.pwc.commining Financial reporting in the mining industry International Financial Reporting Standards 6th edition
The report would prove crucial as it dwells upon the financial transactions and losses through illegal mining from 2006-2011, another source said. The Commission has made a thorough probe into the bank transactions of exporters, traders and mining lease owners to track down the exact financial transaction, the source added.
There, was, in fact, no grant of a mining lease or a prospecting licence, subsisting at any time under the rules, Under R. 40, the State Government has to maintain a register of applications for mining lease, which shall be maintained by it in Form L., and the State Government has to maintain another register of mining lease which it shall ...
The nature of renewal of lease was highlighted in Delhi Development Authority v Durga Chand Kaushish 1973, where the Honble Supreme Court of India observed that a renewal of lease is called so because it postulates the existence of a prior lease which generally contains a clause for renewal. In all other respects, a renewal is essentially ...
The Porgera mining lease is set to expire on August 16, 2019. Jackson Chen | June 3, 2019 | 1258 pm Gold China premiums rise as trade woes boost buying India demand tapers
Coal India slapped Rs 43.25 cr fine for illegal mining in Assam forest. Accepting that the mining was going on since 2003 without a renewed lease, the North Eastern Coalfields, a unit of the Maharatna PSU, claimed that it had applied for renewal of the lease when the agreement had expired
Indian Mining Regulations. C.R.C., c. 956. INDIAN ACT. ... 23 1 Subject to subsection 2, every lease expires 10 years from the date upon which it was issued unless otherwise provided in the invitation to tender under section 5 or in the lease issued under section 6 or pursuant to section 19. 2 ...
The 30-year-old mining lease for this company to extract iron ore expired in July 1999 however, extensions of its mining permits allowed the company to continue mining operations until 31st December 2005, after which the Supreme Court of India decided not to grant any further extensions.