Section 98 in The Delhi Co-Operative Societies Act, 2003
98. Reimburse-ment to the Deposit Insurance Corporation by the liquidator.
- Where a co-operative bank being an insured bank within the meaning of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961) is wound up, or taken into liquidation, and the Deposit Insurance Corporation has become liable to the depositors of the insured bank under sub-section (1) of section 16 of that Act, the Deposit Insurance Corporation shall be reimbursed by the liquidator or such other person in the circumstances to the extent and in the manner provided in section 21 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961).
