Section 73AA(3) in The Drugs and Cosmetics Rules, 1945
(3)If the licencee fails to pay licence retention fee on or before the due date as referred to in sub-rule (1), he shall be liable to pay licence retention fee along with a late fee calculated at the rate of two per cent. of the licence fee for every month or part there of up to six months, and in the event of non-payment of such fee, the licence shall be deemed to have been cancelled.]
