Pawnbrokers to keep books, give receipts, etc

Pawnbrokers to keep books, give receipts, etc.―

1. (1) Every pawnbroker shall―
   • (a) regularly record and maintain or cause to be recorded and maintained in a pledge book in the prescribed form, an account showing for each pawner separately―
     • (i) the date of the loan, the amount of the principal of the loan and the rate of interest charged on the loan per cent per annum, per rupee per mensem and per rupee per annum;
     • (ii) the amount of every payment received by the pawnbroker in respect of the loan, and the date of such payment;
     • (iii) a full and detailed description of the article or of each of the articles taken in pawn;
     • (iv) the time agreed upon for the redemption of the pawn; and
     • (v) the name and address of the pawner, and where the pawner is not the owner of the article or of any of the articles pawned, the name and address of the owner thereof;
   • (b) keep and use in his business the following documents and books (which shall be in the prescribed form) and enter therein from time to time, as occasion requires, in a fair and legible manner such particulars and in accordance with such directions as may be prescribed:―
     • (i) pawn-ticket;
     • (ii) sale book of pledges;
     • (iii) declaration where pledge is claimed by owner;
     • (iv) declaration of pawn-ticket lost; and
     • (v) receipt on redemption of pledge;
   • (c) give to the pawner or his agent a receipt for every sum paid by him, duly signed and, if necessary, stamped at the time of such payment;
   • (d) on requisition in writing made by the pawner, furnish to the pawner or, if he so requires, to any person mentioned by him in that behalf in his requisition, a statement of account signed by himself or his agent, showing the particulars referred to in clause
   • (a) and also the amount which remains outstanding on account of the principal and of interest, and charge such sum as the Government may, prescribe as fee therefor; and
   • (e) submit to the Inspector concerned such returns relating to the deposits accepted and the loans advanced by him, in such form and at such times, as may be prescribed.
2. (2) All records or entries made in the books, accounts and documents referred to in sub-section
3. (1) shall be in such language or languages as may be prescribed in respect of any area; and all such books, accounts and documents and all pledges taken by the pawnbroker shall be open to inspection at any time by the licensing authority or by the Inspectors appointed under section 10 or by any officer authorised in this behalf by the Government.
4. (3) Notwithstanding anything contained in the Indian Evidence Act, 1872, a copy of the account referred to in clause
   • (a) of sub-section (1), certified in such manner as may be prescribed shall be admissible in evidence in the same manner and to the same extent as the original account.
5. (4) A pawner to whom a statement of account has been furnished under clause
   • (d) of sub-section
6. (1) and who fails to object to the correctness of the account shall not, by such failure alone, be deemed to have admitted the correctness of such account.
7. (5) In the pawn-ticket furnished to the pawner, in the receipt given under clause
   • (c) of sub-section
8. (1) and in the statement of accounts furnished under clause
   • (d) of that sub-section, the figures shall be entered only in Arabic numerals.
9. (6) If any pawnbroker fails to give to the pawner or his agent a receipt under clause
   • (c) of sub-section (1), he shall be liable to a fine not exceeding two hundred and fifty rupees.