(1)Without prejudice to the provisions contained in section 162 or section 271 of the Indian Companies Act, 1913, and without prejudice to its powers under section 37, the {Subs.by Act 52 of 1953, s.4, for ” Court “.} [High Court] shall order the winding up of a banking company if it is unable to pay its debts and the [Subs.by Act 52 of 1953, s.4, for ” Court “.][High Court] shall also order the winding up of a banking company if the Reserve Bank applies in this behalf to the {Subs.by Act 52 of 1953, s.4, for ” Court “.} [High Court].
