Banking Regulation Act, 1949 — back to Table of Contents
Section 42. Power to dispense with meetings of creditors, etc.
Notwithstanding anything to the contrary contained in section 460 of the Companies Act, 1956 (1 of 1956), the High Court may, in the proceedings for winding up a banking company, dispense with any meetings of creditors or contributories if it considers that no object will be secured thereby sufficient to justify the delay and expense.
Continue with the Table of Contents to Section 43.
