(2)Where an application under section 153 of the Indian Companies Act, 1913 is made in respect of a banking company, the High Court may direct the Reserve Bank to make an inquiry in relation to the affairs of the banking company and the conduct of its directors and when such a direction is given, the Reserve Bank shall make such inquiry and submit its report to the High Court. [Ins, ibid.][Part III-A consisting of ss.45A to 45X, were subs.by Act 52 of 1953, s.10, for the former Part III-A.]
