As per case facts, the petitioner, a wine contractor, was allotted several liquor vends under a new Excise Policy. The petitioner deposited a percentage of the total licence fee, including ... bank guarantees. Subsequently, due to business reasons, the petitioner applied to transfer some vends to new transferees, paying the required transfer fee and clearing all dues. The respondent-administration approved these transfers. The transferees then furnished fresh bank guarantees, solvency certificates, and surety bonds to cover any future losses. Despite this, the respondent-administration refused to release the petitioner's original bank guarantees for the transferred vends, leading the petitioner to approach the High Court. The question arose whether the respondent-administration was justified in withholding the petitioner's bank guarantees after the vends were transferred and new security was provided by the transferees. Finally, the High Court ruled that the withholding was unjustified, as transferees had taken over responsibility and provided sufficient security. The court directed the release of the bank guarantees.