Section 16(1) in The Bengal Money-Lenders Act, 1940
(1)The grant of a licence shall not be refused except on one or more of the following grounds, namely:-(a)that the applicant has not complied with the provisions of the Act or of the rules made thereunder in respect of an application for the grant of a licence;(b)that the applicant or any person responsible or proposed to be responsible for the management of the applicantÂ’s money-lending business is under this Act disqualified for holding a licence.
