Inspection of chitty books and records

Inspection of chitty books and records.—

1. (1) The Registrar or an inspecting officer may inspect the chitty books and records after giving due notice in writing to the foreman.
2. (2) Every foreman shall be bound to produce the chitty books and records before the Registrar or the inspecting officer at the time and place mentioned in the notice, and shall furnish such information to him as he may require: Provided that if the foreman is a banking company or a company owned by the Government of Kerala or a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, such inspection shall be held by the Registrar or the inspecting officer at the premises of the company or bank on any working day after notice, and it shall be the duty of the company or company or bank and its officers and servants to afford all facilities and assistance as may be necessary or reasonably required in regard to the inspection.
3. (3) If inspection of the chitty books or records is refused, the company or bank or any officer or servant thereof who is in default shall be punishable with fine which may extend to fifty rupees and with further fine which may extend to twenty rupee for every day during which the refusal continues.
4. (4) Any foreman other than a banking company or a company owned by the Government of Kerala or a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, who contravenes the provisions of sub-section
5. (2) shall be punishable with fine which may extend to one hundred rupees.