Section 10 in Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Rules, 2011
10. Cancellation of the Registration.
(1)The Registering Authority shall cancel the Registration accorded to a Micro Finance Institution on violation of any condition of the Act, or any of these Rules or any clauses of the points of the Undertaking submitted in Form 2, or on any complaint filed and found to be valid under Section 14, or suo moto under Section 5(1), including the following:(a)Charging of rates of interest higher than what has been state.d in the application for registration.(b)Attempt to recover any money not permitted under the Act or under these rules on the loans given.(c)Operating in areas not specifically permitted in the Registration.(2)Before passing an order for cancellation of the Registration, the Registering Authority shall cause a notice to be served upon the Micro Finance Institution, requiring it to show cause within fifteen days from the date of service of such notice as to why its-registration should not be cancelled.(3)The Registering Authority shall, if the Micro Finance Institution files objections before the date fixed in the notice, after considering the same and if the Micro Finance Institution does not file objections before the date fixed, than after the said date, pass an Order in accordance with the Act, which shall be communicated to the Micro Finance Institution.
