(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.(2)Where a Court convicts a money-lender of an offence under this Act, or, makes an order or declaration under clause (a) or (b) of sub-section (1), it shall cause the particulars of the conviction, order or declaration, as the case may be, to be endorsed on all the licences which were granted for the purpose and also cause such particulars to be entered in the registers:Provided that where any licence held by any money-lender is suspended or cancelled or any money-lender is disqualified from holding any licence he may appeal from the decision of the Court passing the order; and the Court of appeal may, if it thinks fit, pending the appeal, stay the operation of the order under this section.(3)Any licence required by a Court for endorsement in accordance with sub-section (2), shall be produced by the person by whom it is held in such manner and within such time as may be directed by the Court and any person who, without reasonable cause, makes default in producing the licence so required shall be liable, on conviction, to a fine not exceeding Rs. 500 for each day for the period during which the default continues.(4)Powers conferred on a Court under this section may be exercised by any Court in appeal or in revision.
