Section 45L(1) in The Banking Regulation Act, 1949
(1)Where an application for sanction a compromise or arrangement in respect of a banking company is made 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).], or where such sanction has been given and the High Court is of opinion, whether on a report of the Reserve Bank or otherwise, that any person who has taken part in the promotion or formation of the banking company or has been a director or auditor of the banking company should be publicly examined, it may direct such examination of such person and the provisions of section 45-G shall, as far as may be, apply to the banking company as they apply to a banking company which is being wound up.
