Banking Regulation Act
Banking Regulation Act
III · Section 43

Booked depositors’ credits to be deemed proved

Synced on 07 Jul 2026Text as per India Code

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 6[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.]

Judgments on Section 43