Section 36A(2) in The Banking Regulation Act, 1949
(2)Where the Reserve Bank is satisfied that any such banking company as is referred to in sub-section (1) has repaid, or has made adequate provision for repaying all deposits accepted by the banking company, either in full or to the maximum extent possible, the Reserve Bank may, by notice published in the Official Gazette, notify that the banking company has ceased to be a banking company within the meaning of this Act, and thereupon all the provisions of this Act applicable to such banking company shall cease to apply to it, except as respects things done or omitted to be done before such notice.][Part II-A [Inserted by Act 55 of 1963, Section 18 (w.e.f. 1.2.1964).] Control Over Management
