Section 88(5) in Karnataka Agricultural Produce Marketing Act 1966
(5)Subject to the provisions of this Act and the rules and bye-laws the cash security deposit made by any trader or commission agent with the market committee shall be refunded to him within twelve months from the date of his ceasing to be a licensee if the market committee is satisfied that there are no liabilities due by the depositor either to the market committee or to any of the creditors who have a second charge on such deposit in respect of the transactions for which the security is deposited.
