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[Cites 0, Cited by 1] [Section 45MC] [Entire Act]

Union of India - Subsection

Section 45MC(2) in The Reserve Bank of India Act, 1934

(2)A non-banking financial company shall be deemed to be unable to pay its debt if it has refused or has failed to meet within five working days any lawful demand made at any to its offices or branches and the Bank certifies in writing that such company is unable to pay its debt.