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Banking Regulation Act, 1949

45R. Power to call for returns and information

The Reserve Bank may, at any time by a notice in writing, require the liquidator, of a banking company to furnish it, within such time as may be specified in the notice or such further time as the Reserve Bank may allow, any statement or information relating to or connected with the winding up of the banking company; and it shall be the duty of every liquidator to comply with such requirements.

Explanation: For the purposes of this section and section 45Q, a banking company working under a compromise or arrangement but prohibited from receiving fresh deposits, shall, as far as may be, be deemed to be a banking company which is being wound up.

Banking Regulation Act, 1949 Back

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