Section 5(1) in The Rajasthan Warehouses Rules, 1960
(1)Every warehouseman shall have and maintain in respect of each warehouse for which the application for a licence has been made, net assets liable for the payment of any indebtedness arising from the conduct of the warehouse to the extent of atleast Rs. 50 per 100 cubic feet storage capacity of the licenced warehouse. The said limit may be reduced by the prescribed authority in the case of the Central Warehousing Corporation, Rajasthan State Warehousing Corporation or any other Marketing Co-operative Society registered under the Rajasthan Co-operative Societies Act. Such assets may also consist of movable or immovable property of the required valuation. In case buildings, machinery or merchandise are included among such assets, the warehouseman shall keep them insured against loss or damage by fire with a company or companies approved by the prescribed authority.
