Section 55(6)(d) in The M.P. Vat Act, 2002

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State of Madhya Pradesh - Subsection

Section 55(6)(d) in The M.P. Vat Act, 2002

(d)The Commissioner may, at any time after the service of the notice under clause (b) and before passing an order imposing penally under clause (c), release the goods seized if the dealer or the person from whom the goods were seized furnishes security in the form of cash security or bank guarantee to the satisfaction of the Commissioner, in each case for such reasonable amount as the Commissioner may specify by order in writing with due regard to the amount of penalty proposed. On payment by the dealer of the penally imposed upon him under clause (c), if the security furnished is in the form of bank guarantee, the bank guarantee shall be released and in such security has been furnished in the form of cash security, it shall be adjusted towards the penalty so imposed and the balance, if any, shall be refunded to the dealer.

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State of Madhya Pradesh - Subsection

Section 55(6)(d) in The M.P. Vat Act, 2002