The licensee shall executed a bond in form B. 3, pledging the premises, stock of beer, all apparatus and utensils employed in the manufacturing and storage of beer for the due discharge of all payments which may become due to Government. The licensee may, however in lieu of executing such a bond, execute a bond in form B 16 and deposit Government promissory notes or in National Savings Certificates of such value as the [Excise Commissioner] [Legislative Supplement Part III dated 26.10.71.] may direct or furnish a guarantee by the State Bank of India in form B.17 to the satisfaction of the [Excise Commissioner] [Legislative Supplement Part III dated 26.10.71.] A deposit made under this rule will be separate and distinct from the security deposit required by the preceding rule.
