(1) The Registering Authority or any officer authorised by him in this behalf may, to verify whether the business of the MFI is being carried on in accordance with the provisions of this Act, enter the premises of the MFI office or of any person who in his opinion is carrying on the business Submissions of monthly statement by MFIs.
Power to require production of records or documents and power of entry, inspection and seizure.
10 [Act No.1 of 2011] of lending and call upon him to produce any record or document relating to such business and every such MFI shall allow such inspection and produce such record or document.
(2) The Registering Authority may, for the purposes of sub-section (1) search the premises and seize any record and document as may be necessary and the record or document seized shall be retained only for such period as may be necessary for the purposes of examination, prosecution or other legal action:
Provided that the provisions of sections 100 and 102 of the Code of Criminal Procedure, 1973 shall, so far as may be, apply to such search and seizure.
(3) The registering authority or the other officer referred to in sub-section (1) shall also have power to summon and examine the MFI or any person who in his opinion is in a position to furnish relevant information.
14. Any SHG or its members or any member of the public can file a complaint regarding violation of the provision of this Act by a MFI before the Registering Authority and the said Authority shall enquire into the same after giving a reasonable opportunity to the MFI to show cause and pass such orders as it may deem fit including an order under section 5 of the Act.