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Banking Regulation Act, 1949 · Section guide

Section 45Q: Power to inspect

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45Q — Power to inspect. Allows inspection in the Part IIIA context to support winding-up/arrangement supervision; records and persons specified by the provision. Must be made available.

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

Allows inspection in the Part IIIA context to support winding-up/arrangement supervision.

Condition / limitation

records and persons specified by the provision must be made available.

Source and effective-date control

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

Professional application

Map inspection direction, report recipients and action on irregularities during winding up.

Evidence / working-paper checklist

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

Current-law source control

Source control: Section 45Q 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 45Q on the event date.

Professional reading note

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

for power to inspect, then test the operative proposition: Allows inspection in the Part IIIA context to support winding-up/arrangement supervision. Next confirm

the limiting or interaction point: records and persons specified by the provision must be made available. 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 45Q evidence: High Court/Central Government/RBI order initiating the process and Section

45Q evidence: liquidator/scheme records and creditor/debtor lists. Read the provision in sequence with Section 45O — Special period of limitation and Section

45P — Reserve Bank to tender advice in winding-up proceeding. 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.