(1)The licensing authority may, at any time, by order in writing, forfeit to the Government the whole or any portion of the security furnished under sub-section (2A) of section 4,(a)if the licensee carries on the business of money lending in contravention of any of the provisions of this Act or the rules made thereunder or the conditions of the licence; or(b)If the licensee is convicted of an offence under section 11 or section 13; or(c)if the licensee maintains false accounts.(2)Before forfeiting to the Government the whole or any portion of the security under sub-section (1), the licensing authority shall give the licensee a notice in writing stating the grounds on which it is proposed to take action and requiring him to show cause against it within such time as may be specified in the notice.(3)Every order of the licensing authority under this section shall be communicated to the licensee in such manner as may be prescribed.".]
