Section 45S of BRA : Section 45S: Chief Presidency Magistrate And District Magistrate To Assist Official Liquidator In Taking Charge Of Property Of Banking Company Being Wound Up

BRA

JavaScript did not load properly

Some content might be missing or broken. Please try disabling content blockers or use a different browser like Chrome, Safari or Firefox.

Explanation using Example

Imagine a local bank, "Friendly Bank", has been declared insolvent and is now being wound up. The official liquidator is responsible for collecting all the assets and property of Friendly Bank to pay off its debts. However, the bank's headquarters, where most of its property and important documents are located, is in a busy area of the city, and the liquidator is having trouble taking control of the premises due to the bank's uncooperative management.

In this scenario, the official liquidator can write to the Chief Metropolitan Magistrate ...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.

🚀 Special Offer! Enjoy 1 Year of Ad-Free Browsing with any subscription.
KanoonGPT is now faster and smarter, powered by upgraded servers.
Subscribe today and unlock all new features!
Update: Discover how KanoonGPT revolutionizes legal research! Watch our demo video on the homepage to see how you can chat with various legal sections using our innovative hybrid AI search. Enjoy free unlimited AI access for a limited time!
Update: Page bookmarking and open in new tab is now supported! Simply use your browser's bookmark manager to save this page for quick access later.
Update: We're building AI tools for the Indian Law community. Help shape the future by filling out this quick form for a chance to get a free 1-year usage of the requested tool.

Download Digital Bare Acts on mobile or tablet with "Kanoon Library" app

Kanoon Library Android App - Play Store LinkKanoon Library iOS App - App Store Link