Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything to the contrary contained in 1 [section 466 of the Companies Act, 1956 (1 of 1956)], the 2 [High Court] shall not make any order staying the proceedings in relation to the winding up of a banking company, unless the 2 [High Court] is satisfied that an arrangement has been made whereby the company can pay its depositors in full as their claims accrue