Section 7A
Concerned Department May Seek Particulars
(1) The Department which is concerned with a private firm registered under this Act, may seek the particulars of the accounts of a firm.
(2) It shall be the duty of the firm to submit the particulars sought pursuant to Sub-section (1) to the concerned Department.
7b. The registration of a private firm may be canceled The concerned Department may cancel the registration of a private firm in the following circumstances;
(a) If a private firm, which is related with commercial business, fails to effect renewal of the firm within a prescribed period.
(b) If the owner of a private firm submits an application to the concerned Department for the termination of registration of his/her firm upon setting out reasonable reason.
(c) If it is found that a firm has been registered by providing false particulars in contravention of Sub- section (3) of Section 4.
(d) If a firm fails to submit the particulars sought by the concerned Department pursuant to Section 7a to the concerned department within prescribed period.
(e) If an industry related private firm closes down operating industry whether providing information thereof to the concerned Department or not.
(f) If an industry related private firm fails to renew the industry within a prescribed period from the expiry of validity period to renew the firm or fails to submit a written progress report on action to be taken for the construction of factory, purchase of machinery equipment or tools and other acts as may be required in order to establish and operate the industry as per the condition of the licenses despite the firm is renewed.
(g) If a private firm commits any other act in contravention of this Act or Rules framed hereunder.
(2) Before canceling the registration of a private firm pursuant to Clauses (a), (c), (d), (e), (f) or (g) of Sub-section 1, the concerned Department shall provide a reasonable opportunity to the concerned private firm for submitting a clarification.
(3) If the registration of a private firm is canceled by the concerned Department pursuant to Clauses (a), (c), (d), (f) or (g) of Sub-section (1) any other private firm which carries same/similar objectives shall not be registered in the name of such owner of the firm for a period of one year.
(2) It shall be the duty of the firm to submit the particulars sought pursuant to Sub-section (1) to the concerned Department.
7b. The registration of a private firm may be canceled The concerned Department may cancel the registration of a private firm in the following circumstances;
(a) If a private firm, which is related with commercial business, fails to effect renewal of the firm within a prescribed period.
(b) If the owner of a private firm submits an application to the concerned Department for the termination of registration of his/her firm upon setting out reasonable reason.
(c) If it is found that a firm has been registered by providing false particulars in contravention of Sub- section (3) of Section 4.
(d) If a firm fails to submit the particulars sought by the concerned Department pursuant to Section 7a to the concerned department within prescribed period.
(e) If an industry related private firm closes down operating industry whether providing information thereof to the concerned Department or not.
(f) If an industry related private firm fails to renew the industry within a prescribed period from the expiry of validity period to renew the firm or fails to submit a written progress report on action to be taken for the construction of factory, purchase of machinery equipment or tools and other acts as may be required in order to establish and operate the industry as per the condition of the licenses despite the firm is renewed.
(g) If a private firm commits any other act in contravention of this Act or Rules framed hereunder.
(2) Before canceling the registration of a private firm pursuant to Clauses (a), (c), (d), (e), (f) or (g) of Sub-section 1, the concerned Department shall provide a reasonable opportunity to the concerned private firm for submitting a clarification.
(3) If the registration of a private firm is canceled by the concerned Department pursuant to Clauses (a), (c), (d), (f) or (g) of Sub-section (1) any other private firm which carries same/similar objectives shall not be registered in the name of such owner of the firm for a period of one year.