Banking Regulation Act, 1949 · Section guide
Section 45C: Transfer of pending proceedings
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 45C — Transfer of pending proceedings. Transfers specified pending proceedings to the High Court dealing with the banking-company winding up, subject to the statutory exceptions including appellate proceedings identified by the section.
Official statute linkedProvision-specific anatomyPractical case + evidence file
Statutory structure and provision map
This map is a provision-specific explanation, not a substitute for the exact statutory text.
Core statutory rule
Transfers specified pending proceedings to the High Court dealing with the banking-company winding up, subject to the statutory exceptions including appellate proceedings identified by the section.
Condition / limitation
How to read the provisionSection 45C: read the operative proposition with its defined terms and cross-references in the official Act.
Timing / amount / process
Boundary of the ruleDo not expand Section 45C by analogy; distinguish statutory text from stricter policy or later RBI requirements.
Professional application
Explain transfer, notice, retained matters and the effect on pending proceedings.
Evidence / working-paper checklist
- Section 45C evidence: High Court/Central Government/RBI order initiating the process.
- Section 45C evidence: liquidator/scheme records and creditor/debtor lists.
- Section 45C evidence: service/publication and statutory-timeline evidence.
- Section 45C evidence: orders settling claims, calls, transfers, moratorium or amalgamation.
Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.
Common mistakes to avoid
- For Section 45C, avoid applying ordinary Companies Act procedure without the banking-specific override.
- For Section 45C, avoid missing the special limitation or accelerated filing period.
- For Section 45C, avoid treating a private scheme as effective before the statutory sanction/order.
Related sections inside the Act
Use these links to read Section 45C in its statutory sequence, especially where the provision imports definitions, approvals, appeals, penalties or winding-up consequences from neighbouring sections.
Current-law source control
Source control: Section 45C is anchored to the official DFS consolidated text; later changes require separate Gazette verification.
Dated matters: verify any later Gazette, RBI direction or binding judgment affecting Section 45C on the event date.
Primary official sources
Disclaimer
This Finin2min page is an educational and professional reference. Banking regulation is fact-, entity- and date-sensitive. Verify the current Act, Gazette amendments and commencement notifications, applicable RBI Rules/directions and the transaction record before acting or filing.