Chapter IIIC — Deposits by Unincorporated Bodies
Section 45T: Power to issue search warrants
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 45T empowers the competent Magistrate to issue a search warrant on the statutory information/grounds relating to contravention of Section 45S and authorises search/seizure in the manner provided.
Operative provisionOfficial sources mappedProvision-specific decode
Finin2min - Section 45T in 2 minutes
Statutory structure and clause / subsection decode
This map separates the operative limbs of this provision so thresholds, powers, conditions and exceptions are not collapsed into a single summary.
Rule 1
It is an enforcement mechanism, not a routine inspection power
Rule 2
judicial satisfaction and the warrant's scope matter.
Connected rule
The search process should be distinguished from RBI inspections under Section 45N and ordinary investigative powers under other criminal laws.
Worked practical example
Facts. A regulator cannot rely on Section 45T as a general authority to search any NBFC office; the provision is tied to the Chapter IIIC deposit prohibition and the judicial warrant process.
Compliance points and common mistakes
- Do not decide the issue from the heading alone. Map the facts to the operative words of Section 45T and to each relevant subsection, clause, proviso or explanation shown above.
- Keep the statutory question separate from the operational overlay. The search process should be distinguished from RBI inspections under Section 45N and ordinary investigative powers under other criminal laws.
- 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- Where the provision is historical, omitted or repealed, state that status prominently and do not present it as a current compliance obligation.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 45T 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 45T?
Power to issue search warrants: Section 45T empowers the competent Magistrate to issue a search warrant on the statutory information/grounds relating to contravention of Section 45S and authorises search/seizure in the manner provided.
Which statutory limb should be checked first?
Rule 1 - It is an enforcement mechanism, not a routine inspection power
What is the next legal boundary?
Rule 2 - judicial satisfaction and the warrant's scope matter.
What record should support the conclusion?
Section 45T file evidence: For a search, record the warrant, premises, authorised officers, inventory of seized records and chain of custody.
Primary sources
- Department of Financial Services - consolidated RBI Act (states amendments through Finance Act, 2022)
- India Code - Reserve Bank of India Act, 1934
Source control for Section 45T: 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.