Banking Regulation Act, 1949 — back to Table of Contents
Section 45P. Reserve Bank to tender advice in winding up proceedings
Where, in a proceeding for the winding up of a banking company, a person other than the Reserve Bank has been appointed official liquidator, and the High Court has directed the liquidator to obtain the Reserve Bank’s advice on any matter (which the Court is empowered to do), the Reserve Bank may examine the record of that proceeding and tender such advice on the matter as it thinks fit.
Note: Part IIIA was inserted by the Banking Companies (Amendment) Act, 1953.
