Section 57
Bar to liquidation of a subsidiary bank. Repealed
The State Bank of India (Subsidiary Banks) Act, 1959
About this Act
An Act to provide for the formation of certain Government or Government associated banks as subsidiaries of the State Bank of India and for the constitution, management and control of the subsidiary banks so formed, and for matters connected therewith, or incidental thereto.
No provision of law relating to the winding up of
companies shall apply to a subsidiary bank nor shall it be placed in liquidation, save as provided in
this Act or by order of the Central Government and in such manner as the Central Government may
direct.