1[45M. Special provisions for banking companies working under schemes of arrangement at the commencement of the Amendment Act.—Where any compromise or arrangement sanctioned in respect of a banking company under 2[section 391 of the Companies Act, 1956 (1 of 1956),] is being worked at the commencement of the Banking Companies (Amendment) Act, 1953 (52 of 1953), the High Court may, if it so thinks fit on the application of such banking company,—
Chapter VIII — SPECIAL PROVISIONS FOR SPEEDY DISPOSAL OF WINDING UP PROCEEDINGS
Section 45M
Special provisions for banking companies working under schemes of arrangement at the commencement of the Amendment Act.
Printed from Law on Tips • The Banking Regulation Act, 1949