(1) If the licensing authority, after making an enquiry, is satisfied that public interest so requires, it may revoke a licence in any of the following cases, namely :––
(a) where the licensee, in the opinion of the licensing authority, makes wilful or prolonged default in doing anything required of him by or under the Act or the rules or regulations made thereunder ;
(b) where the licensee violates any of the terms and conditions of his licence, the violation of which is expressly declared by such licence to render it liable to revocation ;
(c) where the licensee fails, within the period fixed in this behalf by the licence, or any longer period which the licensing authority may have granted therefor, to––
(i) show to the satisfaction of the licensing authority that the licensee is in a position to discharge fully and efficiently the duties and obligations imposed on him by his licence ; or
(ii) make the deposit or furnish the security or pay the fees or other charges required by his licence ;
(d) where in the opinion of the Authority or the Government, as the case may be, the financial position of the licensee is such that he is unable to discharge fully and efficiently the duties and obligations imposed on him by his licence.
(2) Where in its opinion the public interest so requires, the licensing authority may, on application, or with the consent, of the licensee revoke his licence as to the whole or part of his area of operation on such terms and conditions as it thinks fit.
(3) No licence shall be revoked under sub-section (1) unless the licensing authority has given to the licensee not less than three months notice in writing specifying the grounds on which it is proposed to revoke the licence, and has considered any cause shown by the licensee within the period of that notice, against the proposed revocation.