Judgement of the Supreme Court of India regarding establishment of the District Mineral Foundation, 13/10/2017
Judgement of the Supreme Court of India in the matter of Federation of Indian Mineral Industries & Others Vs Union of India & Others dated 13/10/2017 regarding establishment of the District Mineral Foundation under the Mines and Minerals (Development and Regulation) Act, 1957 and the contribution required to be made to the District Mineral Foundation by the holder of a mining lease or a prospecting licence-cum-mining lease in addition to the payment of royalty.
Supreme Court passes the following directions:
1. Contributions to the DMF are required to be made by the holder of a mining lease or a prospecting licence-cum-mining lease in the case of minerals other than coal, lignite and sand for stowing with effect from 17th September, 2015 when the rates were prescribed by the Central Government and in the case of coal, lignite and sand with effect from 20th October, 2015 .
2. Notification dated 31st August, 2016 issued by the Central Government is invalid
3. Court grants time till 31st December, 2017 to those holders of a mining lease or a prospecting licence-cum-mining lease who have not made the full contribution to the District Mineral Funds to pay the contribution, failing which they will be liable to make the contribution with interest at 15% per annum from the due date.