https://www.taxtmi.com/caselaws?id=97454 The winding up of a banking company is governed primarily by the special scheme in the Banking Companies Act, 1949, which operates as a self-contained code and is not displaced by the general liquidation provisions of the Companies Act, 1956 except where consistent. In that statutory setting, the absence of a court liquidator under the Companies Act does not make the general regime controlling. The court may lawfully accept the Reserve Bank's nominated person as official liquidator, and due weight should be given to the Reserve Bank's selection. The appointment of the nominated liquidator was therefore upheld. en-us Wed, 28 Nov 1956 00:00:00 +0530 Mon, 16 Jan 2012 17:28:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97454 The winding up of a banking company is governed primarily by the special scheme in the Banking Companies Act, 1949, which operates as a self-contained code and is not displaced by the general liquidation provisions of the Companies Act, 1956 except where consistent. In that statutory setting, the absence of a court liquidator under the Companies Act does not make the general regime controlling. The court may lawfully accept the Reserve Bank's nominated person as official liquidator, and due weight should be given to the Reserve Bank's selection. The appointment of the nominated liquidator was therefore upheld. Case-Laws Companies Law Wed, 28 Nov 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97454