Banking Regulation Act
Banking Regulation Act
III · Section 45ZD

Notice of claims of other persons regarding articles not receivable

Synced on 07 Jul 2026Text as per India Code

No notice of the claim of any person, other than the person or persons in whose name any article is held by a banking company in safe custody, shall be receivable by the banking company, nor shall the banking company be bound by any such notice even though expressly given to it:

Provided that where any decree, order, certificate or other authority from a court of competent jurisdiction relating to such article is produced before a banking company, the banking company shall take due note of such decree, order, certificate or other authority.

Judgments on Section 45ZD