Amendment status not verified — confirm the current text below against the official source.
Punishment for advancing smaller amount or receiving higher interest than that specified in the accounts for other documents: (I) Any money lender, whether licenced or not: (a) who actually advances an amount less than the amount shown in his accounts, registers, pawn-tickets or other documents relating the loan, or (b) who receives interest or other charges at arate higher than the rate shown in the accounts, registers, pawn-ticket or other documents shall be punishable with imprisonment for a tern may extend one year or with fine which may extend to five thousand rupees or with both. (2) If a money lender is convicted of an offence under sub-section (1) after having been previously convicted of such an offence, the Court convicting him on the subsequent occasion may cancel his license as a money lender. Provided that such cancellation shall not afFect the right of a money lender to realize loans advanced by him in accordance with the provisions of this regulation prior to the cancellation of his license.