Section 5(iv) in Mumbai Port Trust (Licensing of Stevedores and Allied Matters) Regulations, 2012
(iv)Applications for renewal of the licence shall be made at least three months before the expiry of the licence. If an application for the renewal is not received within the stipulated period, the application may be accepted on payment of a late fee of Rs.500 for each day of delay, or such fee as may be prescribed by the Chairman from time to time, provided the application for renewal, together with such late fee is received by the Traffic Manager before the actual date of expiry of the licence.
