92. Refund of security deposit.-(1) On expiry of the period of licence the contractor may, if not intends to have their licence renewed further, make an application electronically to the licensing authority for the refund of the security deposited by them along with copy of licence so expired and notice of completion of work and bank details in which amount is required to be refunded.

(2) Where the authority is satisfied that there is no breach of the conditions of licence or there is no order for the forfeiture of security deposit or any portion thereof, authority shall direct the return of the security deposit to the contractor.

(3) If there is any order directing the forfeiture of any portion of security deposit, the amount to be forfeited shall be deducted from the security deposited and balance, if any, shall be refunded to the contractor within thirty days from the making of application.

(4) Any application for refund shall, be disposed of within thirty days of the making of such application.