Section 8(1) in The Bombay Money-Lenders Act, 1946
(1)The grant of a licence shall not be refused except on any of the following grounds:-(a)that the applicant, or any person responsible or proposed to be responsible for the management of his business as a money-lender is disqualified from holding a licence;(b)that the applicant has not complied with the provisions of this Act or the rules in respect of an application for the grant of a licence[* * *] [The words, figures and letter 'or that the applicant does not hold a certificate under section 7A' were deleted by Maharashtra 20 of 1977, Section 4.];(c)that the applicant has made wilful default in complying with or knowingly acted in contravention of any requirement of this Act;(d)that satisfactory evidence has been produced that the applicant or any person responsible or proposed to be responsible for the management of his business of money-lending has, -(i)knowingly participated in or connived at any fraud or dishonesty in the conduct of or in connection with the business of money-lending, or(ii)been found guilty of an offence under Chapter XVII or sections 465, 477 or 477-A of Chapter XVIII of the Indian Penal Code.
