https://www.taxtmi.com/caselaws?id=112677 On a combined reading of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 and the relevant regulations, the Liquidator of an insured bank may repay amounts realised to the Corporation after winding up, subject to the statutory repayment mechanism. The Corporation's liability to depositors arises on winding up, but no provision requires the Liquidator to wait until the entire insured claim is paid to all depositors before making repayment to the Corporation. The only limitation is that sufficient realisations must remain to allow at least one paisa in the rupee to each depositor after expenses. A mandamus cannot be issued to restrain repayment where the statute permits it. en-us Tue, 30 Sep 2008 00:00:00 +0530 Thu, 27 Nov 2014 13:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112677 On a combined reading of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 and the relevant regulations, the Liquidator of an insured bank may repay amounts realised to the Corporation after winding up, subject to the statutory repayment mechanism. The Corporation's liability to depositors arises on winding up, but no provision requires the Liquidator to wait until the entire insured claim is paid to all depositors before making repayment to the Corporation. The only limitation is that sufficient realisations must remain to allow at least one paisa in the rupee to each depositor after expenses. A mandamus cannot be issued to restrain repayment where the statute permits it. Case-Laws Companies Law Tue, 30 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112677