18C. Imposition of penalty by Officers and Authorities.
(1)If the Inspector or the Licensing authority is satisfied that any person,-(a)being a person liable to take himself a licence under this Act, carries on the business of money-lending without taking such licence; or(b)has failed to keep true and complete accounts of the business; or(c)has failed to submit any return or statement as required by the provisions of this Act or the rules made thereunder; or(d)has submitted an untrue or incorrect return or statement; or(e)has acted in contravention of any of the provisions of this Act or the rules made thereunder, for the contravention of which, no express provision for payment of penalty or for punishment is made by this Act:Such Inspector or Authority may direct that such person shall pay, by way of penalty an amount not exceeding [twenty-five thousand rupees.Explanation. - The burden of proving that any person is not liable to the penalty under this section shall be on such person.(2)No order under sub-section (1) shall be passed unless the person on whom the penalty proposed to be imposed is given an opportunity of being heard in the matter.
