Mumbai, Dec. 22 -- The lease permits river sand mining with an annual production ceiling of 1,54,350 metric tonnes per annum.

The company got the sand mine through the auction process and has obtained the necessary statutory clearances from the relevant authorities.

Additionally, the company has deposited the requisite amounts and security with the Mining Engineer, Department of Mines & Geology, Barmer, Government of Rajasthan, for execution of the mining agreement.

Under the terms of the lease, Vishnu Prakash R Punglia will be responsible for the mining and sale of river sand for a period of five years, subject to the prescribed annual production ceiling and applicable regulatory compliances.

"The lease aligns with the company's dive...