Power of Court to suspend or cancel registration in certain cases

(1) A court passing an order of conviction against a Money-Lender for an offence under this Act, if it is satisfied that such Money-Lender has committed such contravention of the provisions of this Act or rules made thereunder as would make him unfit to carry on the business of money-lending, may, by order, in addition to any fine which it may impose on him for such offence, that such Money-Lender shall be disqualified from holding any registration in the said area of business for such period, not being less than six months, as the Court may think fit. (2) Where a Court convicts a Money-Lender of an offence under this Act, or makes an order under sub-section (1), it shall cause the particulars of the conviction and the order passed by it to be endorsed on all the authorized registrations held by the Money-Lender convicted or by any other person affected by the order and shall cause a copy of its judgment and order duly authenticated by it to be sent to the Registrars by whom the registrations were granted, for the purpose of entering such particulars in the registers: Provided that where any Money-Lender is disqualified from holding any registration under this section, he may appeal against such order to the Court to which an appeal ordinarily lies from the decision of the Court passing the order of conviction; and the Court which passed the order or the Court of appeal may, if it thinks fit, pending the appeal, stay the operation of the order under this section. (3) Any registration required by a Court for endorsement in accordance with sub-section (2) shall be produced by the person by whom it is held in such manner and within such time as may be directed by the Court and any person who, without reasonable cause, makes default in producing the registration so required shall be liable, on conviction, to a fine not exceeding five hundred rupees for each day for the period during which the default continues. (4) Powers conferred on a Court under this section may be exercised by any Court in appeal or in revision.