58. Furnishing of security for the IMFL manufactured.
- The licensee before commencing the working of the manufactory, furnish security to the satisfaction of the Commissioner of Excise in the form of a bank guarantee from any scheduled or nationalized bank or in a such other form as the Commissioner of Excise may specify, for a sum as may be fixed by the Government from time to time and also furnish thereafter such additional security, from time to time as may be required with reference to the increase, if any, in the monthly production of the IMFL.Note : IMFL means India Made Foreign Liquor.
