A licensee surrenders the License by making a request in writing to the Principal Commissioner of Customs or Commissioner of Customs, as case may be. On receipt of such request, the Principal Commissioner of Customs or Commissioner of Customs cancels the License in case the following conditions are fulfilled:
the licensee has paid all the monies due to Central Government
no warehoused goods remain deposited in the warehouse or are deposited in the warehouse from the date of request
no proceedings are pending against the licensee