Section 57 of the Reserve Bank of India Act, 1934 – Liquidation of the Bank

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Section 57: Liquidation of the Bank

(1) Nothing in the Companies Act, 1956 (1 of 1956) shall apply to the Bank and the Bank shall not be placed in liquidation save by order of the Central Government and in such manner as it may direct.

Source: official text of The Reserve Bank of India Act, 1934 as published on India Code (PDF). All sections of the Reserve Bank of India Act, 1934.

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