45K. Power of High Court to enforce schemes of arrangements etc:-
(1)Where a High Court makes an order under section 153 of the Indian Companies Act, 1913 sanctioning a compromise or arrangement in respect of a banking company, it shall have powerset to supervise the carrying out of the compromise or arrangement and may at the time of making such order or at any time thereafter give such directions in regard to any matter or make such modifications in the compromise or arrangement as it may consider necessary for the proper working of the compromise or arrangement.(2)If the High Court is satisfied that a compromise or arrangement sanctioned under section 153 of the Indian Companies Act, 1913 cannot be worked satisfactorily with or without modifications, it may, either on its own motion or on the application of any person interested in the affairs of the banking company, make an order winding up the banking company and such an order shall be deemed to be an order made under section 162 of the Indian Companies Act, 1913.(3)The provisions of this section shall, so far as they may, also apply to a banking company in respect of which an order under section 153 of the Indian Companies Act, 1913 sanctioning a compromise or arrangement has been made before the commencement of the Banking Companies (Amendment) Act, 1953.
