Section 88(1) in Karnataka Agricultural Produce Marketing Act 1966
(1)The security deposited or a bank guarantee furnished by a licensee under section 85 or 86 shall be liable to forfeiture by the market committee for any default made by the licensee in payment of any money payable by him to the market committee [or producer seller] [Inserted by Act 35 of 1986 w.e.f.17.6.1986] to any other market functionary under this Act or the rules or bye-laws made thereunder.
