(11)(a)Where tenders have been invited for licence fee, the successful tenderer whose tender has been accepted by the Excise Commissioner with the approval of the Government, shall pay the whole amount and the earnest money deposited by him shall be adjusted towards the satisfaction of dues payable by him as aforesaid or as security amount wherever such security is provided;(b)any person whose tender is accepted, whether for licence fee or for rates, shall take all requisite action to complete all formalities required for grant of a licence within seven days from the date of communication of acceptance of his tender and if he does not do so, all deposits made by him shall stand forfeited to the Government and while the licence may be re-tendered or granted in any other manner, he shall not be entitled to any compensation.
