Chapter IIIB — Non-Banking Institutions and Financial Institutions

Section 45P: [Repealed.] Cognizance of offences

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45P is a repealed historical cognizance provision associated with former Chapter IIIB offences.

Historical / non-operativeOfficial sources mappedProvision-specific decode

Current legal status

Section 45P is a repealed historical cognizance provision associated with former Chapter IIIB offences.

It no longer governs commencement of present prosecutions.

Use today: Current prosecution/cognizance questions should be examined under surviving Sections 58E and related procedural law.

Historical reading note

Historical case analysis should identify whether the offence occurred while Section 45P was in force.

Illustration. A current complaint should not cite repealed Section 45P when Section 58E supplies the operative cognizance framework.

Compliance points and common mistakes

Do not decide the issue from the heading alone. Map the facts to the operative words of Section 45P and to each relevant subsection, clause, proviso or explanation shown above.
Keep the statutory question separate from the operational overlay. Current prosecution/cognizance questions should be examined under surviving Sections 58E and related procedural law.
Do not convert an exception, exemption or discretionary RBI/Government power into an automatic entitlement. Record the authority, conditions and effective date.
Where the provision is historical, omitted or repealed, state that status prominently and do not present it as a current compliance obligation.

Connected provisions and instruments

Section 45P has no universal instrument dependency in this package. Add an RBI circular or direction only when its subject, entity and effective date cover the issue being analysed.

Questions and answers

What is the purpose of Section 45P?

[Repealed.] Cognizance of offences: Section 45P is a repealed historical cognizance provision associated with former Chapter IIIB offences.

Which statutory limb should be checked first?

Scope - Section 45P is a repealed historical cognizance provision associated with former Chapter IIIB offences.

What is the next legal boundary?

Operative limb - It no longer governs commencement of present prosecutions.

What record should support the conclusion?

Section 45P file evidence: Historical case analysis should identify whether the offence occurred while Section 45P was in force.

Primary sources

Source control for Section 45P: use the official consolidated RBI Act for the statutory text and footnotes, then separately reconcile any post-Finance Act 2022 amendment, commencement notification or RBI instrument relevant to the event date.

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