Section 96 in The Medicinal And Toilet Preparations (Excise Duties) Rules, 1955
96. Security.
- Before granting the licence the licensing authority shall in cases where security is required to be furnished by or under these Rules, fix the amount of such security.This security shall be furnished either in cash or in interest-bearing securities viz. Government Promissory Notes, National Savings Certificate, Post Office Savings Bank Pass-Books or Post Office Cash Certificate or in Fixed Deposit Receipts of the State Bank of India, or any other Bank duly approved by the State Government. This security is liable to be increased or decreased by the licensing authority at any time, should it consider, for any reason, that the amount so fixed is inadequate, excessive or unsuitable.
