Powers of High Court in voluntary winding up

Q: When did Section 44 of the Banking Regulation Act come into force?

Section 44 of the Banking Regulation Act, cited as Banking Regulation Act 1949 44, came into force on 16 Mar 1949, having been enacted on 10 Mar 1949. It is in force as at the date shown on this page.

In force From 16 Mar 1949 Act 10 of 1949 As on 20 Oct 2026

Act 10 of 1949 Ministry Finance Enacted 10 Mar 1949 In force 16 Mar 1949

Section 44 of the Banking Regulation Act, 1949 deals with powers of High Court in voluntary winding up. Notwithstanding anything to the contrary contained in section 484 of the Companies Act, 1956 (1 of 1956), no banking company may be voluntarily wound up unless the Reserve Bank certifies in writing that the company is able to pay in full all its debts to its creditors as they accrue. The Act came into force on 16 Mar 1949.

¹[44. Powers of High Court in voluntary winding up.--(1) Notwithstanding anything to the contrary contained in section 484 of the Companies Act, 1956 (1 of 1956), no banking company may be voluntarily wound up unless the Reserve Bank certifies in writing that the company is able to pay in full all its debts to its creditors as they accrue.
(2) The High Court may, in any case where a banking company is being wound up voluntarily, make an order that the voluntary winding up shall continue, but subject to the supervision of the court.
(3) Without prejudice to the provisions contained in sections 441 and 521 of the Companies Act, 1956 (1 of 1956), the High Court may of its own motion and shall on the application of the Reserve Bank, order the winding up of a banking company by the High Court in any of the following cases, namely:--
(a) where the banking company is being wound up voluntarily and at any stage during the voluntary winding up proceedings the company is not able to meet its debts as they accrue; or
(b) where the banking company is being wound up voluntarily or is being wound up subject to the supervision of the court and the High Court is satisfied that the voluntary winding up or winding up subject to the supervision of the court cannot be continued without detriment to the interests of the depositors.]
Section 44, The Banking Regulation Act, 1949 (Act 10 of 1949).

Questions about Section 44

What does Section 44 of the Banking Regulation Act deal with?

Section 44 of the Banking Regulation Act is headed "Powers of High Court in voluntary winding up". [44. Powers of High Court in voluntary winding up.--(1) Notwithstanding anything to the contrary contained in section 484 of the Companies Act, 1956 (1 of 1956), no banking company may be voluntarily wound up unless the Reserve Bank certifies in writing that the company is able to pay in full all it

How do I find court cases under Section 44 of the Banking Regulation Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Banking Regulation Act 1949 44, section 44 Banking Regulation Act 1949, section 44 of the Banking Regulation Act. People searching for it also type banking regulation act section 44a and section 44 banking regulation act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

When did Section 44 of the Banking Regulation Act come into force?

Section 44 of the Banking Regulation Act, cited as Banking Regulation Act 1949 44, came into force on 16 Mar 1949, having been enacted on 10 Mar 1949. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 20 Oct 2026. This page is not a substitute for legal advice.