Where the holder of a mineral concession which has been granted otherwise than through auction is found to have,-
(a) transferred the mineral concession, or any right, title or interest therein, including by way of assignment, sublet or mortgage, or
(b) entered into or made any arrangement, contract or understanding whereby the mineral concession holder will or may be directly or indirectly financed to a substantial extent by, or under which the operations or undertakings of the holder of the mineral concession will or may be substantially controlled by, or under which the mineral will or may be supplied, delivered or sold at substantially lower than the fair market value thereof to, or under which the sale price or profit will or may be shared with, or under which significantly higher amount(s) than the normal industry norms will or may be paid for any operation(s) to, any person or body of persons other than the holder of the mineral concession, the State Government may, by order in writing, terminate such mineral concession:
Provided that no such order shall be made without giving the holder of mineral concession a reasonable opportunity of stating his case.
Provided further that the transfer of the mineral concession taken place or the arrangement, contract or understanding entered into with the previous consent in writing of the state government before 12 th January, 2015 i.e. the coming into force of the Mines and Minerals (Development and Regulation) Amendment Act, 2015 shall not be liable for any action under this rule.