[43. Booked depositors' credits to be deemed proved.--In any proceeding for the winding up of a banking company, every depositor of the banking company shall be deemed to have filed his claim for the amount shown in the books of the banking company as standing to his credit and, notwithstanding anything to the contrary contained in [section 474 of the Companies Act, 1956 (1 of 1956)] the High Court shall presume such claims to have been proved, unless the official liquidator shows that there is reason for doubting its correctness.]
Section 43: Booked depositors' credits to be deemed proved.
The Banking Regulation Act, 1949Central Act · Act 10 of 1949
Where this provision sits
| Act | The Banking Regulation Act, 1949 |
|---|---|
| Section | 43 |
| Marginal note | Booked depositors' credits to be deemed proved. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted, Act 52 of 1953. . Subs. by Act 52 of 1953, s. 8, for section 43 (w.e.f. 30-12-1953).
- substituted, Act 95 of 1956. . Subs. by Act 95 of 1956, s. 14 and the Schedule, for "section 191 of the Indian Companies Act 1913 (7 of 1913)" (w.e.f. 14-1-1957)
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