(1)Notwithstanding anything contained in section 4, the Licensing Authority may demand from the money-lender additional security at any time, if in the opinion of such authority there is excess of liabilities over the assets of the money-lender at that time:Provided that, while determining the excess of liabilities over assets, the security furnished by the money-lender under sub-section (2A) of section 4 of this Act shall be treated as assets of the money-lender:Provided further that in respect of the loans advanced by the money-lender against security in any form, the Licensing Authority shall have power to revalue or determine the adequacy of the security or securities or revalue any assets for the purpose of determination of excess of liabilities over the assets.(2)The additional security to be furnished by the money-lender under subsection (1) shall be equal to the mount of such excess of liabilities over the assets.(3)The additional security referred to in this section shall be furnished in any of the following forms:-(a)by deposit in the Government Treasury; or(b)by deposit with such authority, of Government securities including National Savings Certificates; or(c)by deposit in Post Offices Savings Bank or Scheduled Bank or a Co-operative Bank and pledging of the pass book thereof, with such authority; or(d)by guarantee from a bank approved in this behalf by such authority agreeing to pay to the State Government on demand, the amount, of such additional security; or(e)by surety bonds from sureties acceptable to such authority, for the amount of such additional security.(4)The additional security furnished by the money-lender shall be retained till, in the opinion of the Licensing Authority, there exists excess of liabilities over the assets of the money-lender.(5)The additional security retained under sub-section (4) shall be utilized for the payment of the liabilities of the money-lender in connection with his business as money-lender, at the time of the winding up of the business or cancellation of the license, as the case may be.(6)Any money-lender from whom additional security is demanded under this section and who carries on business without furnishing such security within thirty days of such demand, shall be punishable with imprisonment which may extend to six months or with fine which may extend to two thousand rupees or with both".
