Section 43
Booked depositors' credits to be deemed proved.
The Banking Regulation Act, 1949
About this Act
An Act to consolidate and amend the law relating to banking.
1[43. Booked depositors' credits to be deemed proved.--In any proceeding for the winding up of
a banking company, every depositor of the banking company shall be deemed to have filed his claim for
the amount shown in the books of the banking company as standing to his credit and, notwithstanding
anything to the contrary contained in 2[section 474 of the Companies Act, 1956 (1 of 1956)] the High
Court shall presume such claims to have been proved, unless the official liquidator shows that there is
reason for doubting its correctness.]
Notes
1. Subs. by Act 52 of 1953, s. 8, for section 43 (w.e.f. 30-12-1953).
2. Subs. by Act 95 of 1956, s. 14 and the Schedule, for "section 191 of the Indian Companies Act 1913 (7 of 1913)" (w.e.f. 14-1-1957)
2. Subs. by Act 95 of 1956, s. 14 and the Schedule, for "section 191 of the Indian Companies Act 1913 (7 of 1913)" (w.e.f. 14-1-1957)