Section 8 in The M.P. Krishi Upaj Mandi (Special Licence for more than one Market Areas) Rules, 2003
8. Disposal of the Security.
(1)The amount of security deposit in the form of FDR or Bank Guarantee by the licence holder will remain deposited in the Board account. If the payment of the due market fees and Nirashrit Shulk is not made by the licence holder, then due payment from balance amount of the FDR/Bank Guarantee and Security given under Rule 7, will be recovered alongwith the interest by the notified authority/officer. The remaining amount of security deposit in the board as Cash, FDR or Bank Guarantee will be refunded to the applicant on demand on receipt of No Dues/No Objection Certificate, from the Secretaries of the specified market area.(b)If the licence holder desires to surrender his special licence, then the notified authority/officer after proper inquiry may take decision to refund or not to refund or to refund partly, the security amount deposited. The decision of the notified authority/officer will be final be binding on the licence holder.
