State Bank of India (Subsidiary Banks) Act : Bar to liquidation of a subsidiary bank. Indian Bare Acts

State Bank of India (Subsidiary Banks) Act,1959

Act No : 38

Section : Bar to liquidation of a subsidiary bank.

57. Bar to liquidation of a subsidiary bank.-No provision of law relating to the winding up of companies shall apply to a subsidiary bank nor shall it be placed in liquidation, save as provided in this Act or by order of the Central Government and in such manner as the Central Government may direct.