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2018 (12) TMI 1984 - Tri - Insolvency and BankruptcyViolation of moratorium in terms of Section 14 of the IBC - termination of Mining Lease during declaration of moratorium - request for Deemed Extension of the said Mining Lease rejected - HELD THAT:- Based on the enquiry, an Order came to be issued on 26.09.2018 by the Under Secretary to Government, Commerce & Industries Department (Mines}, State of Karnataka whereby the Application filed for Deemed Extension of Mining Lease bearing ML No.2293 by the IRP was rejected in spite of the recommendations of the Director, Department of Mines and Geology, Bangalore. Therefore, the Order dated 26.09.2018 issued by the Under Secretary to Government, Commerce & Industries Department (Mines), State of Karnataka rejecting Deemed Extension of Mining Lease bearing ML No.2293 is hereby set aside, as the same is in violation of the Moratorium declared by this Authority on 12.03.2018 under Section 14(1) of the I&B Code, 2016. Consequently, the Respondent Nos. 1 to 3 are directed to execute Supplement Deeds extending the period of the Mining Lease bearing ML No.2293 upto 31.03.2020, in accordance with Sec. 8 A (6) of the M.M.D.R Act, 1957 as amended under the Mines and Minerals (Development and Regulation) Amendment Act, 2015, within a period of two weeks from the date of the receipt of the certified copy of this Order.
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