Refusal to grant licence. -(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.(2)A Sub-Registrar refusing a licence-(i)under clause (a) of sub-section (1) shall record his reasons of such refusal;(ii)under clause (b) of sub-section (1) shall record the evidence of the disqualification.(3)An appeal from the orders of a Sub-Registrar refusing a licence shall, if made within thirty days from the date of such order, lie to a Registrar authorised under section 6 to hear such appeal.(4)A Registrar referred to in sub-section (3) may decide, if such appeal is allowed, as to the Sub-Registrar to whom application for a licence shall be made and his decision shall, subject to the provisions of sub-section (5), be final for all purposes, and shall be binding on such Sub-Registrar whether he be under the control of such Registrar or not.(5)A Competent Court may, on application made within ninety days from the date of the decision of the Registrar in appeal under sub-section (3), revise such decision.(6)The procedure to be followed by a Competent Court or by a Registrar in proceedings under this section shall be in accordance with rules prescribed under this Act.(7)The provisions of sections 4, 5 and 12 of the Indian Limitation Act, 1908, shall apply to all appeals and applications for revision made under this section, and for the purposes of the said sections a Registrar shall be deemed to be a Court.
