“Provided that for the preferred bidder selected pursuant the notice inviting tender issued after the date of commencement of the Mineral (Auction) Amendment Rules, 2024, the amount of performance security shall not exceed five hundred crore rupees.”
8. In the said rules, in rule 19,—
(i) in sub-rule (1), after the proviso, the following proviso shall be inserted, namely:— “Provided further that for the preferred bidder selected pursuant the notice inviting tender issued after the date of commencement of the Mineral (Auction) Amendment Rules, 2024, the amount of performance security shall not exceed two hundred and fifty crore rupees.”
(ii) in sub-rule (3), the following proviso shall be inserted, namely:— “Provided that for the holder of composite licence selected pursuant the notice inviting tender issued after the date of commencement of the Mineral (Auction) Amendment Rules, 2024, the amount of performance security specified in sub-rules (2) and (3) shall not exceed five hundred crore rupees.”