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Union of India - Section

Section 41 in Banking Companies Act, 1949

41. Report of liquidator

Notwithstanding anything to the contrary contained in section 177B of the Indian Companies Act, 1913, where a winding up order is made in respect of a banking company, the official liquidator shall submit a preliminary report to the {Subs., ibid., s.4, for ” Court “.} [High Court] within two months from the date of the order giving the information required by that section so far as it is available to him, to enable the {Subs., ibid., s.4, for ” Court “.} [High Court] to order the payment of a preliminary dividend if sufficient assets are available.