Transfer of Land Ownership to Mahanadi Coalfields Limited: Terms and Conditions Under the Coal Bearing Areas Act, 1957.
23 August 2024
The Government of India has issued a notification on April 29, 2024, transferring the ownership of approximately 530.174 hectares (or 1310.06 acres) of land to Mahanadi Coalfields Limited (a government company) from the Central Government. This transfer is made under the Coal Bearing Areas (Acquisition and Development) Act, 1957.
Key conditions of this transfer include:
1. The government company must handle all payments related to compensation, interest, and damages as required by the Act.
2. A Tribunal will be set up to determine payment amounts, with all related costs borne by the government company.
3. The company must indemnify the Central Government against any related expenses or legal proceedings.
4. The company cannot transfer the land or rights to another party without prior approval from the Central Government.
5. The company must follow any additional directions or conditions imposed by the Central Government regarding specific areas of the land.