Section 8(b) in The Central Electricity Regulatory Commission (Procedure, Terms & Conditions for grant of Transmission License and other related matters) Regulations, 2001
(b)Stipulate an amount payable towards `Project Implementation Guarantee Deposit' required to be deposited immediately by the successful bidder on selection, which amount shall be forfeited in case the selected bidder fails to reach financial closure or complete the project within stipulated time,
