Section 45ZB of the Banking Regulation Act, 1949 – Notice of claims of other persons regarding deposits not receivable

Home › The Banking Regulation Act, 1949 › Part IIIB – Provisions relating to certain operations of banking companies

Section 45ZB: Notice of claims of other persons regarding deposits not receivable

1[45ZB. Notice of claims of other persons regarding deposits not receivable.–No notice of the claim of any person, other than the person or persons in whose name a deposit is held by a banking company, shall be receivable by the banking company, nor shall the banking company be bound by any such notice even though expressly given to it: Provided that where any decree, order, certificate or other authority from a court of competent jurisdiction relating to such deposit is produced before a banking company, the banking company shall take due note of such decree, order, certificate or other authority.]

Source: official text of The Banking Regulation Act, 1949 as published on India Code (PDF). All sections of the Banking Regulation Act, 1949.

Related posts:

  1. The Banking Regulation Act, 1949 – All Sections
  2. Section 45 of the Banking Regulation Act, 1949 – Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution or amalgamation
  3. Section 56 of the Banking Regulation Act, 1949 – Act to apply to co-operative societies subject to modifications
  4. Section 45ZD of the Banking Regulation Act, 1949 – Notice of claims of other persons regarding articles not receivable