Section 25(3) in Daman and Diu Value Added Tax Regulation, 2005
(3)Where the security or additional security furnished by a person is in the form of a surety bond and the surety dies or becomes insolvent, the person shall, within one month of the occurrence of such event, inform the death or insolvency of such surety to the Commissioner and execute a fresh surety bond within three months of such occurrence.
