18D. Penalty for collection of interest in excess of the rate prescribed under section 7.
(1)If the Inspector or the Licensing Authority is satisfied that any moneylender has received interest in excess of the rate of interest specified in section 7 or any other charge in excess of the rate fixed by the rules made under this Act, ["he may order forfeiture of the amount collected in excess and"] direct that such money-lender shall pay by way of penalty and amount not exceeding thrice the amount of interest or other charges so received:Provided that in the case of interest or other charge collected at excess rate, ["no penalty shall be imposed or forfeiture ordered";] under this section, if the Inspector or the Licensing authority is satisfied that the sum so collected has been refunded to the person from whom it was collected.(1A)The excess amount forfeited under sub-section (1) shall be refunded to the debtor in such manner may be prescribed.(2)No prosecution for an offence under this Act shall be instituted in respect of the same facts on which a penalty has been imposed under this section.
