Amendment status not verified — confirm the current text below against the official source.
Grant and refusal of licenses: 1 (a) Evety application for a money-lender's license shall be in writing and shall be made to the prescribed licensing authority; (b) Every such application shall be accompanied by such fee, as the State Government may, from time to time prescribe; (c) The fee payable under this sub-section shall be paid through Treasury Challan under the appropriate Head of Account; (d) Where the license applied for is refused, the fee paid under this sub-section shall be refunded in full and where the application for the lilcense is withdrawn by the applicant before the license is actually granted the fee paid less ten percent thereof shall be refunded. 2 Every license shall be granted in such form and subject to such conditions as may be prescribed; 3 The licensing authority may, by order in writing, refuse to grant a license if such authority is satisfied: (a) That the applicant has not complied with the provisions of this Act or the rules made thereunder in respect of an application for grant of a license; (b) That the applicant has knowingly acted in contravention of any other Act or rule for the time being in force; or (c) that the applicant has- (i) knowingly participated in, or connived at, any fraud or dishonestly in the conduct of, or in connection with, the business of money lending, or (ii) been found guilty of any offence under Chapter XVII or Chapter XVIII of the Indian Penal Code (Central Act 45 of 1860); Provided that before passing an order refusing a license on any of the grounds specified above other than the ground specified in sub-clause (ii) of Clause (C), the applicant shall be given a reasonable o p p o h t y of being heard.