Section 5(ii) in Mumbai Port Trust (Licensing of Stevedores and Allied Matters) Regulations, 2012
(ii)The applicant shall pay a licence fee of Rs. 50,000 or such fee as may be decided by the Chairman from time to time before the licence is issued or renewed. Every licenced stevedore shall deposit a sum of Rs. 50,000 as Earnest Money for the proper performance of the work permitted under the licence. The Earnest Money shall not carry any interest and will be refunded when the licence ceases to operate after adjusting claims, if any, to the Board
