Section 14

Prohibition of charge on unpaid capital.

The Banking Regulation Act, 1949

  • Act 10 of 1949
  • Ministry of Finance
  • Department of Financial Services
About this Act

An Act to consolidate and amend the law relating to banking.

All sections
    No banking company shall create any charge upon any unpaid capital of the company, and any such charge shall be invalid.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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