Section 7B(1) in The Karnataka Money-Lenders Act, 1961
(1)The Registrar may, at any time, by order in writing, forfeit to the Government the whole or any portion of the security furnished under subsection (2) of section 7A, if the licensee,—(a)carries on the business of money lending in contravention of any provisions of this Act or the rules made thereunder or the conditions of the licence; or(b)is convicted of an offence under section 27 or section 38 or section 39 or section 40; or(c)maintains false accounts.
