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In which section of BR Act is Court Liquidator discussed ?

ASection 45 H

BSection 38 A

CSection 35 B

DSection 42 C

Answer:

B. Section 38 A

Read Explanation:

BR Act:

  • The BR Act and the RBI Act empower the Reserve Bank to supervise and regulate the operations of all types of banks in India.

  • Banking Companies Act 1949

  • Act 10 of 1949

  • Banking Companies Act was passed in : 10-3-1949

  • Came into force in : 16-3-1949

  • Banking Companies Act was renamed as Banking Regulation Act in : 1966

  • Banking Regulation Act was applicable to Co-operative Societies in 1965 and came in to force on 1.3.1966

  • Total Number Sections in BR Act - 56

  • Total number of Schedules in BR Act - 5

  • 5 parts

  • 5 Schedules

Section 38 A-Court Liquidator

  • There shall be attached to every High Court a Court Liquidator to be appointed by Central Government - conducting all proceedings for the winding up of banking companies


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