28. Cancellation of a licence issued

there exists such ground as provided under subsection (1) of section 27 on which the

the moneylender has contravened any condition or restriction in respect of its licence;

the moneylender has contravened any rule binding upon him as the case may be;

the moneylender has furnished false, misleading or inaccurate information or is concealing or failing to disclose material facts to the

the moneylender has failed to pay the annual licence fee or any administrative charge imposed under this Act;

the moneylender has failed to commence business within nine months from the issue of the licence;

the moneylending business is being liquidated or being wound up or otherwise dissolved;

the moneylender has ceased to carry on the business of moneylending;

the moneylender is carrying on his business, in a manner detrimental to the interest of its creditors and any other stakeholder; or

the moneylending business has a –

key management personnel;

any office bearer; or

any partner, who is subject to any disqualification set out in section 40

withdraw such notice; or

cancel the licence issued to the moneylender.