(1) Every licensee shall make a deposit of a sum not exceeding *[six] lakhs of rupees as may be fixed by the Commissioner by way of security for the due observance of the terms and conditions of licence.
(2) Every licensee shall execute a mortgage deed mortgaging the land and building in which the brewery has been established and the apparatus therein as security for the payment of all sums which may become due to the State Government and to observe all the conditions of licence and to * Substituted by G.,O.Ms.No.28, H, P&E (III) Dept, dated 01.04.2008 7 pay to the Government the entire amount of duty and fee leviable on the quantity of beer produced.
In lieu of executing the mortgage deed, the licensee shall deposit in cash or fixed deposits in Nationalized Bank in the joint account with the Commissioner or any officer authorised by the Commissioner or in Government securities endorsed in favour of the Commissioner or any officer authorized by the Commissioner for such value as the Commissioner may direct.
(3) The deed referred to in sub-rule (2) shall remain in force until cancelled by the Commissioner and shall be in Form B-8.