Defunct Banking Company
Legal definition for Indian law research
Definition
Defunct banking Company, means a banking company: (i) which has been prohibited from receiving fresh deposit, or (ii) which has been ordered to be wound up, or (iii) which has transferred all its deposit liabilities in India to any other institution etc. [Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961), s. 2(f)]
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.