Licensing, control over management and the Reserve Bank’s powers. ss. 35AA and 35AB, inserted in 2017, are the basis of directions to initiate insolvency and are treated as part of the current scheme.
The sections below are the ones the LL.B. papers examine on this Act, with the unit that covers each and the cases decided on it. The official text is on India Code ↗.
Sections in the syllabus
s. 5(b)
Covered in Unit 1 · Banking Structure and the Insolvency and Bankruptcy Code.
s. 22
Covered in Unit 2 · The Laws Governing Financial Institutions.
s. 24
Covered in Unit 2 · The Laws Governing Financial Institutions.
s. 35A
Covered in Unit 2 · The Laws Governing Financial Institutions.
s. 38
Covered in Unit 2 · The Laws Governing Financial Institutions.
s. 45
Covered in Unit 2 · The Laws Governing Financial Institutions.