Section 3 in The M.P. Anusuchit Jan Jati Sahukar Viniyam, 1972
3. Money-lender to obtain licence annually.
(1)No person shall, on or after the date on which these Regulations come into force, carry on business of money-lending at any place in the Scheduled Areas, without obtaining money-lender's licence under these Regulations.(2)Where a person has more than one shop or place of business of money-lending, whether in the same place, town or village, he shall obtain a separate money-lender's licence in respect of each such shop or place of business.(3)Where the business or money-lending is done by-(a)a registered firm the licence shall be obtained in the name of the Manager described as such in the licence;(b)an undivided Hindu family, the licence shall be obtained in the name of the manager described as such in the licence;(c)any other association of individuals, not required to be registered under Section 11 of the Companies Act, 1956 (Central Act 1 of 1956), a separate licence shall be obtained by each such individual in his name describing himself as member of the association :Provided that nothing contained in this sub-section shall affect the operation of Section 69 of the Indian Partnership Act, 1932 (Central Act IX of 1932).
