Section 45ZB of The Banking Regulation Act, 1969: Notice of claims of other persons regarding deposits not receivable.
Notice of claims of other persons regarding deposits not receivable. – No notice of the claim of any person, other than the person or persons in whose name a deposit is held by a banking company, shall be receivable by the banking company, nor shall the banking company be bound by any such notice even though expressly given to it:
Provided that where any decree, order, certificate or other authority from a Court of competent jurisdiction relating to such deposit is produced before a banking company, the banking company shall take due note of such decree, order, certificate or other authority.
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