Amendment status not verified — confirm the current text below against the official source.
(l) Evxy Money-Lender shall deliver or cause tri be delivered Detivery of every year to each ofhis debtors within t[forty-fivo days] after the expiry of staremetrt of the year, a legible statement in ttre prescribed form ofsucl debtor's accor'rnts YearlY accounts and of any amount that mly be oustanding ag^inst such debtor.The ;:L:[uri"Jr:j:, statrement .5u1 goatqin the following particulars, namely:_ Lender. (i) the priacipal amoun! the interest and the expenses due to the Money-Lender at,th.e beginning of the year; (ii) the lotal amount of lo^ns advanced during the year; (iii) the total amount of repayment received during the year; (iv) the principal amount and interest due at the end of the year; and (v) particulars of location of articie as a paw!, pledge or security where it is kept. (2) The statement to be delivered under sub-section Q) shall be signed by the Money-Lender or his agent, and shall be in local ianguage, or if so required by debtor, then in Hindi or F.nglish. (3) In respect of any partitular loan, whether advanced before or after the appointed dan the Money-Lendq 5hall, on a demand in writing being made by the debtor at any time during the period when the loan or any part thereof is outstanding, zupply to the debtor, or if the debtor.so ."qr,.io., to any person specified in that behalf in the demand, . (a)a statement written in the language referred to in sub-.section (2), siged by the Money-I*nds 61 his agen\ and crntairring the relevant particulars specified in sub-section (l); (b)" copy of any document relating to a loan made by him or of any security thereof. Dxp)aination- For the ptpow of this srcdoa ,fuearn n relabbd a azy Money-iender t(e ,6nancia( year. I These words sqE suhihlod for fte qods 'tiirty days" by cuj. l1 of20l5. s2. 16 Audit of accounts of Money-Lender. Debtor nol bound to admit correctness of particulan in statemetrts or pass book. Money-Lender not to dispose olT pawned article,s before certaiD period. The Gujarat Money-Lenders Act, 20 11 [2011 : Guj. 14 23.I[(l) The aciounts of every Money-Lender shall be audited atleast once in every year by such ofrcer as may be specified by the State Govemment by notification in Official Gazette, in resped of those money- lenders who have made transactions upto rupees fifty lacs and in other cases by a person who is a Chartered Accountant within the meaning ofthe Chartered Accountants Act, 1949 ot u fuio of Chartered Accountants; and 38 of 1949. the audit report shall be submitted to the Registar within such period as may be prescribed.l (2) If the audit report under sub-section (l) discloses any irregularity or any contavention or non-compliance of the provisiors of this Act or the n:les made thereunder, or of any of the conditions of the registration, the Registrar to whom such audit report is submitted" may without prejudice to any other action that may be taken under any other provision of this Act, by order in writing direct the Money-Lender to take such action as may be speciied in the order within the time;rentioned therein to remedy the irregulariry, or to take such steps necessary to comply with the provisions of this Act or the rules made thereunder or of the conditions ofthe registration.