Section 50 of the Banking Regulation Act, 1949 – Certain claims for compensation barred

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Section 50: Certain claims for compensation barred

No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions 1[contained in sections 10, 12A, 16, 35A, 35B, 2[36, 43A and 45] or by reason of the compliance by a banking company with any order or direction given to it under this Act].

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

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