Power to require production of records or documents and power of entry, inspection and seizure

(1) The Registering Authority or any officer authorized by him/her in this behalf may, to verify whether the business of the Micro Finance Institution (MFI) or Money Lending Agencies or Organization or Lender is being carried on in accordance with the provisions of this Act, enter the premises of the Micro Finance Institution (MFI) or Money Lending Agencies or Organization or Lender office or of any person who in his/her opinion is carrying on the business of lending and call upon him/her to produce any record or document relating to such business and every such Micro Finance Institution (MFI) or Money Lending Agencies or Organization or Lender shall allow such inspection and produce such record or document during such inspection and as and when required. (2) The Registering Authority may, for the purposes of sub-section (1) search the premises and seize any record and document as may be necessary and the record or document seized shall be retained only for such period as may be necessary for the purposes of examination, prosecution or other legal action. (3) The Registering Authority or the other officer referred to in sub-section (1), shall also have power to summon and examine the Micro Finance Institution (MFI) or Money Lending Agencies or Organization or Lender any person who in his/her opinion is in a position to furnish relevant information.