The government has sought suggestions from the public, states and industry body to amend the Mines and Minerals (Development and Regulation) MMDR Act. The proposed amendments include provisions allowing transfer of captive mines granted through procedures other than auction. The step will not only spur merger and acquisitions in the sector, but will also help in checking the stressed and non-performing assets of banks by allowing them to liquidate assets where a firm or its captive mining lease is mortgaged.<br/><br/>The MMDR Act, passed by Parliament in March last year, only allows transfer of mining leases in cases where the mine has been acquired through auction while the draft bill seeks to amend the existing Act. The draft bill has been uploaded on Ministry's website along with explanatory note about the provisions of proposed bill. Suggestions and comments can be sent by 26th of this month.