Banking Regulation Act, 1949 — back to Table of Contents
Section 45E. Special provisions to make calls on contributories
Notwithstanding that the list of contributories has not been settled under section 467 of the Companies Act, 1956, the High Court may, if it considers it necessary or expedient, at any time after making a winding-up order, make a call on and order payment by any contributory under section 470(1) of the Companies Act, 1956, provided that contributory has been placed on the list of contributories by the official liquidator and has not appeared to dispute their liability.
Note: Part IIIA was inserted by the Banking Companies (Amendment) Act, 1953. References to the Companies Act provisions were updated by the Banking Companies (Amendment) Act, 1956, replacing corresponding references to the Indian Companies Act, 1913.
