Section 45QB(5) in The Reserve Bank of India Act, 1934
(5)No notice of the claim of any person, other than the person or persons in whose name a deposit is held by a non-banking institution, shall be receivable by the non-banking institution, nor shall the non-banking institution be bound by any such notice even though expressly given to it:Provided that where any decree order, certificate or other authority from a court of competent jurisdiction relating to such deposit is procuced before a non-banking institution, the non-banking institution shall take due note of such decree, order, certificate or other authority.
