Section 45L(2) in The Banking Regulation Act, 1949
(2)Where a compromise or arrangement is sanctioned under [section 391 of the Companies Act, 1956 (1 of 1956)] [Substituted by Act 95 of 1956, Section 14 and Sch., for " section 153 of the Indian Companies Act, 1913 (7 of 1913)" (w.e.f. 14.1.1957).], in respect of a banking company, the provisions of [section 543 of the said Act] [ Substituted by Act 95 of 1956, Section 14 and Sch., for " section 235 of the said Act" (w.e.f. 14.1.1957).] and of section 45-H of this Act shall, as far as may be, apply to the banking company as they apply to a banking company which is being wound up as if the order sanctioning the compromise or arrangement were an order for the winding up of the banking company.
