Bare ActsThe Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980

Section 18

Dissolution.

Amendment status not verified — confirm the current text below against the official source.

No provision of law relating to winding up of corporations shall apply to a corresponding new bank and no corresponding new bank shall be placed in liquidation save by order of the Central Government and in such manner as it may direct.

Amended up to 2019-04-15View on India Code →
Section 18 – The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 | DailyLaw.ai