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Notwithstanding anything to the contrary contained in 1[section 466 of
the Companies Act, 1956 (1 of 1956)], the 2[High Court] shall not make any order staying the
proceedings in relation to the winding up of a banking company, unless the 2[High Court] is satisfied
that an arrangement has been made whereby the company can pay its depositors in full as their claims
accrue
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1. Subs. by Act 95 of 1956, s. 14 and Schedule, for "section 173 of the Indian Companies Act, 1913 (7 of 1913)" (w.e.f. 14-1-1957).
2. Subs. by Act 52 of 1953, s. 4, for "Court" (w.e.f. 30-12-1953).