Obtaining licence under fictitious name, carrying on money-lending at a place not mentioned in licence, etc

Whoever,-

1. (a) obtains a licence in the name which is not his true name or carries on the business of money-lending under the licence so obtained; or
2. (b) carries on the business of money-lending at any place not mentioned in

the licence authorizing him to carry on such business; or

1. (c) enters into any agreement in the course of business of money-lending

without a valid licence, or under a licence obtained in the name which is not his true name, shall on conviction, be punished,-

1. (i) for the first offence with imprisonment of either description which may extend to five years or with fine which may extend to rupees five lakh or with both, and
2. (ii) for the second subsequent offence, in addition to or in lieu of, the penalty specified in clause (i), with imprisonment of either description which shall not be less than five years, where such person is not a

company, and with fine which shall not be less than rupees five lakh,

where such person is a company.