Section 6 in The Himachal Pradesh, Registration of Money-Lenders' Act, 1976
6. Cancellation of licence.
- A licence may be cancelled by the Collector and shall not be renewed for such period as may be specified by him, if after the commencement of this Act, a money-lender commits an act or is guilty of an ommission with reference to which he-(i)has been found guilty by a court in recording in any document the sum advanced to be in excess of that actually advanced;(ii)has been found guilty of non-compliance with the provisions relating to the maintenance of accounts under the Himachal Pradesh Debt Reduction Act, 1953; (10 of 1953)(iii)has/had his suit dismissed with a finding that he has made dishonestly or fraudulently a material alteration in any document relating to a loan;(iv)has/had his suit dismissed with a finding that it is fraudulent,(v)has been found by a court to have charged higher rates of interest than those prescribed under the Himachal Pradesh Debt Reduction Act, 1953, (10 of 1953). in more than one suit;(vi)has been found guilty by a court of forgery or cheating in respect of a money transaction:Provided that the Collector shall not cancel a licence until the prescribed period of appeal, or review, as the case may be; has expired; or in the case of appeal or review the appeal of review has been finally decided.
