Section 45C of BRA : Section 45C: Transfer Of Pending Proceedings
BRA
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Explanation using Example
Imagine a small business owner, Mrs. Sharma, who had taken out a loan from XYZ Bank. Unfortunately, XYZ Bank goes into liquidation, and a winding up order is issued by the court. During this period, Mrs. Sharma is also involved in a separate lawsuit against XYZ Bank regarding a dispute over loan terms, which is pending in a lower court.
Under Section 45C of the Banking Regulation Act, 1949:
- The lawsuit Mrs. Sharma is i...
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