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Home › Indian Laws › Banking Regulation Act, 1949 › Section 45J
Banking Regulation Act, 1949 · Section guide

Section 45J: Special provisions for punishing offences in winding up

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45J — Special provisions for punishing offences in winding up. Creates special punishment/procedure for specified offences connected with a banking company being wound. Up; prosecution must match the statutory offence and special court process.

Official statute linkedProvision-specific anatomyPractical case + evidence file
Official text: DFS consolidated Act

Statutory structure and provision map

This map is a provision-specific explanation, not a substitute for the exact statutory text.

Core statutory rule

Creates special punishment/procedure for specified offences connected with a banking company being wound up.

Condition / limitation

prosecution must match the statutory offence and special court process.

Source and effective-date control

Apply the wording of Section 45J that was in force on the event date; use the official Act and any applicable commencement/amending instrument linked on this page.

Professional application

Set out the special offence-trial procedure, safeguards and interaction with ordinary criminal law; verify current criminal-code references.

Evidence / working-paper checklist

  • Section 45J evidence: High Court/Central Government/RBI order initiating the process.
  • Section 45J evidence: liquidator/scheme records and creditor/debtor lists.
  • Section 45J evidence: service/publication and statutory-timeline evidence.
  • Section 45J 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 45J, avoid applying ordinary Companies Act procedure without the banking-specific override.
  • For Section 45J, avoid missing the special limitation or accelerated filing period.
  • For Section 45J, avoid treating a private scheme as effective before the statutory sanction/order.

Related sections inside the Act

Section 45H — Assessing damages against delinquent directors, etc.Section 45I — Duty of directors and officers to assist in realisation of propertySection 45K — High Court power to enforce schemes of arrangements, etc.Section 45L — Public examination under schemes of arrangement

Use these links to read Section 45J 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 45J 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 45J on the event date.

Professional reading note

Professional reading note — Section 45J should be applied as a sequence, not as an isolated heading. Start with the factual trigger

for special provisions for punishing offences in winding up, then test the operative proposition: Creates special punishment/procedure for specified offences connected with

a banking company being wound up. Next confirm the limiting or interaction point: prosecution must match the statutory offence and special court

process. The working file should be capable of showing why the section applies to the relevant bank or person, which statutory version

governs the event date, and which documentary record proves the conclusion. Useful evidence on this page includes Section 45J evidence: High Court/Central

Government/RBI order initiating the process and Section 45J evidence: liquidator/scheme records and creditor/debtor lists. Read the provision in sequence with Section 45H

— Assessing damages against delinquent directors, etc. and Section 45I — Duty of directors and officers to assist in realisation of property.

This method keeps the legal answer tied to the provision itself while allowing RBI directions, rules and later instruments to be layered

on only where their own scope actually applies.

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.