The Banking Regulation Act,1949
Section 50. Certain claims for compensation barred
No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions 1[contained in sections 10,12A,16, 35A, 35B, 2[36, 43A and 45] or by reason of the compliance by a banking company with any order or direction given to it under this Act].
1. Substituted by Act 95 of 1956, Section 12, for certain words w.e.f. 14-1-1957.
2. Substituted by act 37 of 1960, Section 8, for “and 36” .