Amended Rule/Section: Form of Bond for Successful Auction-Purchaser (Appendix to Maharashtra Toddy Shops (Grant of Licences by Auction-cum-Tender) Order, 2001)
Type of Change: Insertion / Standardization of Form
What Changed:
This gazette establishes the prescribed format for bonds that must be executed by successful auction-purchasers of toddy shop licenses. The form serves as a legally binding commitment instrument under clause 20 of the Maharashtra Toddy Shops (Grant of Licences by Auction-cum-Tender) Order, 2001. It creates a standardized template for documenting the financial obligations and default penalties applicable to licensees who win toddy shop licenses through the auction/tender process.
The bond format requires the auction winner to acknowledge payment of one-fourth of the bid amount upfront and commits them to pay the remaining balance as prescribed. It includes a forfeiture clause whereby if the licensee defaults on payment or if their license is cancelled under Section 54 of the Bombay Prohibition Act, 1949 before full payment, the unpaid balance amount is automatically forfeited to the Governor of Maharashtra.