Amendment status not verified — confirm the current text below against the official source.
(1) Any money-lender whether licensed or not-- (a) who actually advances an amount less than the amount shown in his accounts or registers or other documents relating to the loan, or (b) who takes or receives interest or any other charge at a rate higher than the rate shown in the accounts, registers or documents aforesaid or allowed under this Act shall be punished with imprisonment which may extended to six months or with fine which may extend to 1C[ten thousand rupees] or with both. (2) If a money-lender is convicted of an offence under sub-section (1) the Court convincing him may cancel his licence as a money-lender. Substituted by Act 11 of 2015 (w.e.f. 01/04/2015). Prior to the amendment it read as "one thousand rupees"