Section 45ZD of The Banking Regulation Act, 1971: Notice of claims of other persons regarding articles not receivable.

Notice of claims of other persons regarding articles not receivable. – No notice of the claim of any person, other than the person or persons in whose name any article is held by a banking company in safe custody, 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 article 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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