(1)(i)A Court passing an order of conviction against a money-lender for an offence under this Act; or(ii)a Court trying a suit to which this Act applies; if satisfied that such money-lender has committed contravention of the provisions of this Act or the rules as would, in its opinion, make him unfit to carry on the business of money-lending.-(a)shall order that all the licences held by such money-lender in the State be cancelled or suspended for such time as it may think fit; and(b)shall, if it thinks fit, declare any such money-lender, or if any money-lender is an undivided Hindu family, a company or an unincorporated body, such family, company or body and also any person responsible for the management of the business of money-lending carried on by such family, company or body, to be disqualified from holding any licence in the State for such time as the court may think fit.
