(1) Subject to such restrictions as the [State Government] may prescribe, the authority granting any license, permit or pass under this Act may cancel or suspend it —
(a) if any duty or fee payable by the holder thereof be not duly paid ; or
(b) in the event of any breach by the holder of such license, permit or pass or by his servants, or by any one acting on his behalf with his express or implied permission of any of the terms or conditions of such license, permit or pass ; or
(c) if the holder thereof is convicted of any offence punishable under this Act or any other law for the time being in force relating to revenue, or of any cognizable and non-bailable offence, or of any offence punishable [under the Dangerous Drugs Act, 1930, or] under the Merchandise Marks Act, 1889, or of any offence punishable under sections 482 to 489 (both inclusive) of the Indian Penal Code ; or
(d) where a license, permit or pass has been granted on the application of the grantee of an exclusive privilege under this Act, on the requisition in writing of such grantee ; or
(e) if the conditions of the license or permit provide for such cancellations or suspension at will.
(2) When a license, permit or pass held by any person is cancelled under clause (a), (b) or (c) of sub-section (1), the authority aforesaid may cancel any other license, permit or pass granted to such person by, or by the authority of the [State Government] under this Act or under any other law for the time being in force relating to excise revenue or under the Opium Act, 1878
(3) The holder shall not be entitled to any compensation for the cancellation or suspension of his license, permit or pass under this section nor to a refund of any fee paid or deposit made in respect thereof.