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Section 36 – The State Bank of Hyderabad Act,1956

The State Bank of Hyderabad Act,1956

Section 36. Bar to liquidation of the Hyderabad Bank

(1) No provision of law relating to the winding up of companies shall apply to the Hyderabad Bank nor shall it be placed in liquidation, save by order of the Central Government and in such manner as the Central Government may direct.

(2) In any such event, the Reserve Bank shall not be called upon to contribute any amounts to meet the liabilities of the Hyderabad Bank but the surplus assets thereof, if any, shall be transferred to the Reserve Bank.

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The State Bank of Hyderabad Act,1956

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