Conditions to be fulfilled by the applicants

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..... s the case may be], that : (a) he is a citizen of India; (b) he is a person of sound mind; (c) he is not adjudicated as insolvent; (d) he has neither been convicted by a competent court for an offence nor any criminal proceeding is pending against him in any court of law; and (e) he has not been penalised for any offence under the Act, the Central Excise Act, 1944 and the Finance Act, 1994. .....

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..... ed Bank or such other proof acceptable to the1[Principal Commissioner of Customs or Commissioner of Customs, as the case may be] in terms of possession of assets of value of not less than five lakhs rupees: Provided that for the purpose of his satisfaction, the 1[Principal Commissioner of Customs or Commissioner of Customs, as the case may be] may make enquiries as may be deemed fit. ----------- .....

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