(i)every warehouseman shall maintain in respect of each warehouse for which a license has been granted, net assets liable for the payment of any indebtedness arising from the conduct of a warehouse to the extent of at least Rs. 5 per 100 cft. storage capacity of the licensed warehouse. Such assets may consist of movable or immovable property. These assets shall be suitably insured against any loss or damage according to the directions issued from time to time by the Registrar in this behalf;
