Section 2(f) in The Deposit Insurance And Credit Guarantee Corporation Act, 1961
(f)"defunct banking company" means a banking company-(i)which has been prohibited from receiving fresh deposits; or(i)which has been prohibited from receiving fresh deposits; or(i)which has been prohibited from receiving fresh deposits; or(ii)which has been ordered or directed to be wound up; or(iii)which has transferred all its deposit liabilities in India to any other institution; or(iv)which has ceased to be a co-operative bank within the meaning of sub-section (2) of section 36-A of the Banking Regulation Act, 1949 (10 of 1949); or(v)which has converted itself into a non-banking co-operative society; or(vi)in respect of which any scheme of compromise or arrangement or of reconstruction has been sanctioned under any law for the time being in force and such scheme does not permit the acceptance of fresh deposits; or(vii)which has been granted a moratorium which is in operation; or(viii)in respect of which an application for winding up is pending before the Registrar of Co-operative Societies or other competent authority under any law relating to co-operative societies for the time being in force "in a State; or ;](ix)in respect of which any direction, prohibition, order or scheme referred to in sub-section (1) of section 18A is issued or made;".(ii)which has been ordered to be wound up; or(iii)which has transferred all its deposit liabilities in India to any other institution; or(iv)which has ceased to be a banking company within the meaning of sub-section (2) of section 36-A of [the Banking Regulation Act, 1949 (10 of 1949)] [ Substituted by Act 56 of 1968, Section 2, for " the Banking Companies Act, 1949" .], or has converted itself into a non-banking company; or(v)in respect of which a liquidator has been appointed in pursuance of a resolution for the voluntary winding up of its affairs; or(vi)in respect of which any scheme of compromise or arrangement or of reconstruction has been sanctioned by any competent authority and the said scheme does not permit the acceptance of fresh deposits; or(vii)which has been granted a moratorium which is in operation; or(viii)in respect of which an application for the winding up of its affairs is pending in competent Court;(ix)in respect of which any direction, prohibition, order or scheme referred to in sub-section (1) of section 18A is issued or made;";(ff)[ "defunct co-operative bank" means a co-operative bank- [ Inserted by Act 56 of 1968, Section 3.]
