(1) No bid shall be regarded as ‘successful’ unless accepted by the Government;
(2) The highest bidder shall be required to deposit an amount equal to 25% of the annual dead rent/ contract money as the ‘Security’ along with an additional amount equal to one month’s dead rent/ contract money in advance;
(3) The process for completion of the various stages of payment as specified under sub-rule (2) above shall be as follows:
(i) On completion of the bid process i.e. the fall of the hammer or the opening of the sealed bids, as the case may be, the highest bidder shall deposit an amount equal to 10% of the annual bid amount as ‘Initial Bid Security’.
(ii) The amount deposited towards the ‘initial bid security’ would be adjusted as part of the Bid Security on acceptance of the bid by the Government and the Department will issue a Letter of Intent (LoI) in favour of the successful bidder;
(iii) The letter of intent holder shall deposit the balance amount of Bid Security i.e.
equal to 15% of the annual bid amount before commencement of mining operations or before expiry of the period allowed, which shall not be more than twelve months, whichever is earlier, along with an additional amount equal to one month’s dead rent/ contract money;
(iv) The amount of security already deposited towards the initial bid security shall be duly adjusted to make up the twenty five percent of the bid amount towards the bid Security;
(v) Wherever a LoI holder fails to deposit the balance fifteen percent amount towards security as prescribed under sub-rule (3)(iii) above, and/or fails to execute the agreement after the issue of letter of intent, the same shall be deemed to have been revoked and the ten percent amount deposited by him towards ‘initial bid security’ shall stand forfeited. In addition, the letter of intent holder/ defaulter shall be liable to deposit the unpaid balance of fifteen percent to make up twenty five percent of the bid amount as bid security;
(vi) Where the LoI holder fails to deposit the unpaid fifteen percent amount on demand, such amount shall be recoverable as arrears of land revenue and such bidder shall be debarred from participation in any subsequent bids for a period of five years;
(vii) No interest, whatsoever, shall be payable on the security amount deposited under proper security head of the Government;
(viii) On enhancement of the dead rent/ contract money with expiry of every three years period, the lessee/ contractor shall deposit the balance amount of security so as to upscale the security amount equal to 25% of the revised annual dead rent/ contract money as applicable for one year with respect to the next block of three years.
Powers of the Presiding Officer.
Payments of the bid amount.
HARYANA GOVT. GAZ. (EXTRA.), JUNE. 20, 2012 (JYST. 30, 1934 SAKA) 2031 Chapter - 8 General conditions for grant of any mineral concession