Section 25 in The U.P. Excise Licences (Tender-Cum-Auction) Rules, 1991
25. [ Adjustment or refund of advance security deposit. [Substituted by Notification No. 9862/X-97-B-Licence-96-97, dated 1st March, 1996, published in U.P. Gazette, Part I, Section (Kha), dated 9th March, 1996.]
- The security referred to in sub-rule (1) of rule 20 shall, unless it is forfeited, be refunded at the end of Excise Year. The aforesaid security may be refunded at an earlier stage in case all dues and claims of State Government in respect of the auctioned shop or group of shops have been cleared by the licensee. In the discretion of Licensing Authority the advance security deposit may also be allowed to be adjusted towards the payments of bid-money in the closing months of the Excise year. In case the amount of security deposited by fixed deposit receipt is forfeited against the arrears of bid-money, the interest accrued thereon shall vest in the State Government.]
