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Start Free TrialBanking Regulation Act, 1949 Complete Act
State: Central
Year: 1949
.....on 19-9-1949. This Act now incorporates the provisions contained therein in the Banking Companies Act. 1949 as a pernabebt basis, in addition. this Act also amends the said Act for the following purposes :- (a) to incorporate special provisions for facilitating quick amalgamations between banking companies: (b) to empower the Reserve Bank to control opening of branches by Indian banks in foreign countries: (c) to provide a meaning of the terms "assets in India" for the purpose of section 25.-Gaz. of Ind.. 24-12-1949. Pt. V. p:501. Act 52 of 1953.- The Banking Companies Act. 1949 (X of 1949) was passed to ensure proper administration of the banking companies in India. The liquidation of banks, however, continued to be governed by the provisions of the Indian Companies Act, 1913. Experience of the liquidation of a large number of banks that failed during the post-war and post-partition period disclosed that the procedure for the liquidation of joint stock companies was totally inadequate for the liquidation of banking companies in a manner satisfactory to the depositors. A bank has a far larger number of debtors than a joint stock company of a comparable size, and the necessity to.....
List Judgments citing this sectionRequisitioning and Acquisition of Immovable Property Act, 1952 Complete Act
State: Central
Year: 1952
.....the Defence of India Act, 1939would continue to remain under requisition. Subsequently, the Requisitioning and Acquisition of Immovable Property Act, 1952 was enacted to confer-powers on the Government in this regard. Section 24of the Act provided .that any property which was subject to requisition under the Act of 1947 shall be deemed to have been requisitioned under the Requisitioning and Acquisition of Immovable Property Act, 1952. This Act was initially to remain in force for six years and was to expire on the 13th March, 1958. The life of the Act was however, extended from time to time, and will now remain in force up to the 13th March, 1970. 2. Chapter VI of the Defence of India Act, 1962provided for the requisitioning and acquisition of immovable property. The Act ceased to have effect with effect from the 10th July, 1968, namely six months after Proclamation of Emergency which was revoked with effect from the 10th January, 1968. As there were numerous properties requisitioned under the Defence of India Act, 1962, it was not found possible either to release them or to acquire them by the payment of compensation. The Requisitioning and Acquisition of Immovable Property.....
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