Section 57
Liquidation of the Bank.
The Reserve Bank of India Act, 1934
About this Act
An Act to Constitute a Reserve Bank of India.
(1) Nothing in the 1[Companies Act, 1956 (1 of 1956)] shall apply to
the Bank and the Bank shall not be placed in liquidation save by order of the 2[Central Government] and
in such manner as 3[it may direct].
4* * * * *
4* * * * *
Notes
1. Subs. by Act 19 of 1957, s. 5, for "Indian Companies Act, 1913 (7 of 1913)" (w.e.f. 8-6-1957).
2. Subs. by the M.O. 1937, for "G.G. in C.".
3. Subs. by ibid., for "he may direct".
4. Sub-section (2) omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).
2. Subs. by the M.O. 1937, for "G.G. in C.".
3. Subs. by ibid., for "he may direct".
4. Sub-section (2) omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).