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of <h1>Regulation 3: Criteria for Obtaining Private Warehouse License; Solvency, Compliance, and Site Suitability Required</h1> The Private Warehouse Licensing Regulations, 2016, under Regulation 3, outline the criteria for obtaining a private warehouse license. The Principal Commissioner or Commissioner of Customs may grant a license to applicants who are Indian citizens or registered entities, provide an undertaking to comply with specified terms, and furnish a solvency certificate from a scheduled bank, except for government undertakings. Licenses are denied to applicants declared insolvent, convicted of offenses, penalized under certain acts, declared of unsound mind, or if the warehouse site is unsuitable for storing dutiable goods or lacks adequate supervision facilities. Pending bankruptcy or criminal proceedings also disqualify applicants.
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