(1)The grant or renewal of registration 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 under this Act;(b)that the applicant has not complied with the provisions of this Act or the rules made thereunder in respect of an application for the grant or renewal of registration;(c)that the applicant has made wilful default in complying with, or knowingly acted in contravention of any provision of this Act;(d)that satisfactory evidence has been produced that the applicant or any person 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 section 465, 477 or 477-A of Chapter XVIII of the Indian Penal Code:(e)that the applicant has made an application for grant or renewal of registration, during the period for which his registration has been suspended or during the period for which he has been disqualified under this Act for holding registration;(f)that the applicant or the person responsible or proposed to be responsible for the management of the business of money-lending, being a member of a family of a Hindu Undivided Family or a member of a board of directors of a company or a member of an unincorporated body of individuals or a partner of a firm who has been refused the grant or renewal of registration under any of the clauses (a) to (e); and(g)such other grounds as may be prescribed.
