Section 6 in The Punjab Registration of Money-lender's Act, 1938
6. Where licence may be cancelled.
- A licence may be cancelled by the Collector and shall not be renewed for such period as may be specified by him, if after the commencement of this Act, a money-lender commits an act or is guilty of an omission with reference to which he -(i)has been held by a Court to have contravened the provisions of section 3 of the Punjab Regulation of Accounts Act, in more than two suits;(ii)has had his suit dismissed, in whole or in part, under section 37 of the Punjab Relief of Indebtedness Act;(iii)has had his suit dismissed with a finding that he has made, dishonestly or fraudulently, a material alteration in any document relating to a loan;(iv)has had his suit dismissed with a finding that it is fraudulent;(v)has been found by a Court to have charged higher rates of interest than those prescribed under section 5 of the Punjab Relief of Indebtedness Act in more than one suit;(vi)has been found guilty by a Court of forgery or cheating in respect of a money transaction :Provided that the Collector shall not cancel a licence until the prescribed period of appeal, revision or review, as the case may be, has expired; or in case of appeal, revision or review, the appeal, revision or review has been finally decided.
