(b)No application for the renewal of a licence to carry on business as a dealer shall be rejected unless the holder of such licence has been given a reasonable opportunity of presenting his case and unless the Administrator is satisfied that-(i)the application for such renewal has been made after the expiry of the period specified therefor, of(ii)any statement made by the applicant at the time of the issue or renewal of the licence was incorrect or false in material particulars, or(iii)the applicant has contravened any term or condition of the licence or any provision of this Act or any rule or order made thereunder or of any other law for the time being in force in so far as such law prohibits or restricts the bringing into or taking out of India of any goods (including coins, currency, whether Indian or foreign, and foreign exchange) or the dealing in such goods by way of acquisition or otherwise, or(iv)the applicant does not fulfil the prescribed conditions.