LawgistThe Reserve Bank of India Act
45MAAPower to take action against auditors
1[45MAA. Power to take action against auditors. -- Where any auditor fails to comply with any direction given or order made by the Bank under section 45MA, the Bank, may, if satisfied, remove or debar the auditor from exercising the duties as auditor of any of the Bank regulated entities for a maximum period of three years, at a time.]
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1. Ins. by Act 23 of 2019, s. 139 (w.e.f. 9-8-2019).
PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS
- 45H Chapter IIIB not to apply in certain cases
- 45-I Definitions
- 45-IA Requirement of registration and net owned fund
- 45-IB Maintenance of percentage of assets
- 45-IC Reserve fund
- 45-ID Power of Bank to remove directors from office
- 45-IE Supersession of Board of directors of non-banking financial company (Other than Government Company)
- 45J Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money
- 45JA Power of Bank to determine policy and issue directions
- 45K Power of Bank to collect information from non - banking institutions as to deposits and to give directions
- 45L Power of Bank to call for information from financial institutions and to give directions
- 45M Duty of non-banking institutions to furnish statements, etc., required by Bank
- 45MA Powers and duties of auditors
- 45MAA Power to take action against auditors
- 45MB Power of Bank to prohibit acceptance of deposit and alienation of assets
- 45MBA Resolution of non-banking financial company
- 45MC Power of Bank to file winding up petition
- 45N Inspection
- 45NA Deposits not to be solicited by unauthorised person
- 45NAA Power in respect of group companies
- 45NB Disclosure of information
- 45NC Power of Bank to exempt
- 45-O Omitted.
- 45P [Omitted.]
- 45Q Chapter IIIB to override other laws
- 45QA Power of Company Law Board to offer repayment of deposit
- 45QB Nomination by depositors
