Rule 51. Refund of security deposit

(1) On expiry of the period of license the contractor may, if he does not intend to have license renewed further, make an application electronically to the licensing authorit: the refund of the security deposited by him (in fonn of bank guarantee) along with i of license and notice of completion of work and bank details in which amount is requ to be refunded.

(2) If the Licensing authority is satisfied that there is no breach of the conditions of licen: there is no order for the forfeiture of security deposit or any portion thereof, he shall d the refund of the security deposit to the applicant.

(3) If there is any order directing the forfeiture of any portion of contractor's security dcp the amount to be forfeited shall be deducted from the security deposit, and balance, if shali be refunded to the contractor.

(4) Any application for refund shall, as far as possible, be disposed of within 30 days of receipt of the application.