Section 38(3)(b) in The Banking Regulation Act, 1949

[Cites 0, Cited by 0] [Section 38(3)] [Section 38] [Entire Act]

Union of India - Subsection

Section 38(3)(b) in The Banking Regulation Act, 1949

(b)if in the opinion of the Reserve Bank-

(i)a compromise or arrangement sanctioned by a Court in respect of the banking company cannot be worked satisfactorily with or without modifications; or

(ii)the returns, statements or information furnished to it under or in pursuance of the provisions of this Act disclose that the banking company is unable to pay its debts; or

(iii)the continuance of the banking company is prejudicial to the interests of its depositors.

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Union of India - Subsection

Section 38(3)(b) in The Banking Regulation Act, 1949