Pawnbroker advancing smaller amount or receiving higher interest than that specified in accounts to be punishable

(1) Any pawnbroker who actually advances an amount less than that shown in the pawn-ticket or in his accounts or registers or who takes or receives interest or any other charge at a rate higher than that shown in the pawn-ticket or in his accounts or registers shall, on conviction be punished with fine which may extend to five lakh rupees. (2) If a pawnbroker is convicted of an offence under sub-section (1) after having been previously convicted of a similar offence, the Court convicting him may order his licence as a pawnbroker to be cancelled.