Section 44B of BRA : Section 44B: Restriction On Compromise Or Arrangement Between Banking Company And Creditors
BRA
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Explanation using Example
Imagine a scenario where a medium-sized banking company, "SafeBank," is facing financial difficulties and is considering a restructuring of its debt to stay afloat. The management proposes a compromise with its creditors where they agree to accept a reduced payment on the debt owed by SafeBank. Before proceeding, they draft a plan and present it to the High Court for approval.
Under Section 44B of the Banking Regulation Act, 1...
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