Section 50 of The Banking Regulation Act, 1949: Certain claims for compensation barred.

Section 50 of The Banking Regulation Act, 1949: Certain claims for compensation barred.

Certain claims for compensation barred. – No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions [contained in sections 10, 12-A, 16, 35-A, 35-B, [36, 43-A and 45] or by reason of the compliance by a banking company with any order or direction given to it under this Act].

 

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