Section 11(c) in Haryana Passenger Transport Scheme, 2003
(c)The successful applicant shall have to deposit 25% of the bid either in cash or by means of Demand Draft in favour of the District Transport Officer concerned on any scheduled bank in the district within ten days from the notice referred to in sub-clause (a) above. The balance 75% bid money may be paid either in lump sum within thirty days from the date of notice or the same shall be payable to the District Transport Officer concerned in five equated monthly instalments along with simple interest @ 10% per annum. In case of failure to deposit the security and minimum 25% of bid money within ten days from the publication of the notice of offer, the earnest money shall be forfeited. On failure to pay the bid money or any part thereof in time, the bidder shall forfeit all his rights ensuing from the bid and the permit will be allotted to the next highest bidder, if there is any, otherwise, it will be allotted in accordance with the provisions of the scheme and the difference in bid money shall be recoverable from the defaulting bidder.
