(6)No licence shall be granted or renewed unless the applicant or the licensee has deposited a sum prescribed by the Excise Commissioner as security for due performance of licence conditions. Any liability arising against the licensee by way of duty fee, penalty etc. under the provisions of the Act or these rules, shall be recoverable from the amount of security deposit and the reduced security amount shall be indemnified to that extent by the licensee within fifteen days. In case the license is cancelled for gross violation of any condition or any other reason, the security amount shall stand forfeited.
