Section 45-I

Duty of directors and officers of banking company to assist in the realisation of property.

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
    1[45-I. Duty of directors and officers of banking company to assist in the realisation of property.--Every director or other officer of a banking company which is being wound up shall give such assistance to the official liquidator as he may reasonably require in connection with the realisation and distribution of the property of the banking company.]

Notes

1. Subs. by Act 52 of 1953, s. 10, for Part IIIA (w.e.f. 30-12-1953).

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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