Section 14 of The Banking Regulation Act, 1949: Prohibition of charge on unpaid capital.
Prohibition of charge on unpaid capital. – No banking company shall create any charge upon any unpaid capital of the company, and any such charge shall be invalid.
For Complete Banking Regulation Act, 1949. Click here
For other Central Acts. Click here.
Are you Looking for a Legal Professional? Click here
Are you a Lawyer? Register here to get published on Advocate Finder, an open platform for lawyers.