Section 24(1) in The Jammu and Kashmir Money Lenders and Accredited Loan Providers Act, 2010
(1)The registering authority or any other officer or authority authorized by the Government in this behalf, may accept from the person who has committed or is reasonably suspected of having committed any offence under this Act, by way of composition of such offence, -(a)a sum of money equal to the maximum amount prescribed as fine under this Act, if the offence is committed for the first time : and(b)in other cases, twice the amount of such fine prescribed under the respective sections :Provided that an offence with respect to which a proceeding is pending before the court shall not be compoundable.
