7. Refusal of licence
(1) The Director-General or the licensing authority may, for reasons to be recorded in writing, refuse to grant or renew a licence, if-

(a) the applicant has contravened any law relating to customs or foreign exchange;

(b) the application for the licence does not substantially conform to any provision of these rules;

(c) the application or any document used in support thereof contains any false or fraudulent or misleading statement;

(d) it has been decided by the Central Government to canalise the export or import of goods and distribution thereof, as the case may be, through special or specialised agencies;

(e) any action against the applicant is for the time being pending under the Act or Rules and orders made thereunder;

(f) the applicant is or was a managing partner in a partnership firm, or is or was a director of a private limited company, having a controlling interest, against which any action is for the time being pending under the Act or Rules and orders made thereunder; ...continued