section 12
Offence of unregistered lending
The Bihar Micro Finance InstitutionsGeneral202633 sections7 chapters
Chapter VI OFFENCES AND PENALTIES
Statutory text
Offence of unregistered lending.—Any person or entity who carries on the business of lending loans in violation of Section 4 (without obtaining registration and compliance certification) shall be punishable with imprisonment for a term which may extend to three years, and with a fine which may extend to five lakh rupees, or with both.
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