LawgistThe Banking Regulation Act
39AApplication of Companies Act to liquidators
1[39A. Application of Companies Act to liquidators.--(1) All the provisions of the Companies Act, 1956 (1 of 1956), relating to a liquidator, in so far as they are not inconsistent with this Act, shall apply to or in relation to a liquidator appointed under section 38A or section 39.
(2) Any reference to the "official liquidator" in this Part and Part IIIA shall be construed as including a reference to any liquidator of a banking company.]
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1. Ins. by Act 33 of 1959, s. 28 (w.e.f. 1-10-1959).
SUSPENSION OF BUSINESS AND WINDING UP OF BANKING COMPANIES
- 36B High Court defined
- 37 Suspension of business
- 38 Winding up by High Court
- 38A Court liquidator
- 39 Reserve Bank to be official liquidator
- 39A Application of Companies Act to liquidators
- 40 Stay of proceedings
- 41 Preliminary report by official liquidator
- 41A Notice to preferential claimants and secured and unsecured creditors
- 42 Power to dispense with meetings of creditors, etc
- 43 Booked depositors' credits to be deemed proved
- 43A Preferential payments to depositors
- 44 Powers of High Court in voluntary winding up
- 44A Procedure for amalgamation of banking companies
- 44B Restriction on compromise or arrangement between banking company and creditors
- 45 Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution or amalgamation
