Section 7(4) in The Merchant Shipping (Recruitment and Placement of Seafarers) Rules, 2016
(4)The amount so utilised under sub-rule (2) or (3) shall be recovered from the Recruitment and Placement Service within a period of one month from the date of such utilisation failing which the licence of the Recruitment and Placement Service concerned shall stand suspended till the payment is replenished along with interest as specified by the Director-General, but in any case not more than one and a half per cent per month from the date of such payment.
