Conditions to be fulfilled by applicant

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..... r of Customs or Commissioner of Customs, as the case may be, is satisfied that licence may be granted, he shall require the applicant to ,- (a) provide an all risk insurance policy, that includes natural calamities, riots, fire, theft, skillful pilferage and commercial crime in favour of the President of India for a sum equivalent to the amount of duty involved on the dutiable goods proposed to .....

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