The Mines and Minerals (Development and Regulation) Act, 1957
CHAPER II: GENERAL RESTRICTIONS ON UNDERTAKING PROSPECTING AND MINING OPERATIONS
Section 9: Royalties In Respect Of Mining Leases
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Explanation using examples
Imagine a company, XYZ Mining Corp., that holds a mining lease for extracting iron ore in a particular state in India. The lease was granted to them before the Mines and Minerals (Development and Regulation) Act, 1957 came into effect.