Section 45MC(1) in The Reserve Bank of India Act, 1934
(1)The Bank, on being satisfied that a non-banking financial company—(a)is unable to pay its debt; or(b)has by virtue of the provisions of section 45IA become disqualified to carry on the business of a non-banking financial institution; or(c)has been prohibited by the Bank from receiving deposit by an order and such order has been in force for a period of not less than three months; or(d)the continuance of the non-banking financial company is detrimental to the public interest or to the interest of depositors of the company,may file an application for winding up of such non-banking financial company under the Companies Act, 1956 (1 of 1956).
