Supreme Court · 1965 INSC 102 · Decided 9 April 1965
Sree Bank LID. v. Sarkar Duti Roy and CO.
- Court
- Supreme Court of India
- Citation
- 1965 INSC 102 · [1965] 3 S.C.R. 708
- Case number
- CIVIL APPEAL No. 76/1962
- Decided
- 9 April 1965
- Bench
- A.K. SARKAR, K.N. WANCHOO, RAGHUBAR DAYAL (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Limitation Act Section 182(7)
Headnote
Banking Companies Act (10 of 1949), s. 45-0 and Banking Com­ panies (Amendment) Act (52 of 1953)-Applicabilitl/ to instalment decree. In 1949, the Banking Companies Act was passed with a view to protect and secure the interests of depositors. [n 1953 s. 45-0 was enacted by the Banking Proceedings Committee. Section 45-0 (1) provided that in computing the period of limitation prescribed for an application by a banking company which is being wound up, the period commencing from the date of the presentation of the winding up petition shall be excluded; and s. 45-0 (3)
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