Notwithstanding anything to the contrary contained in 1[section 466 of the Companies Act, 1956 (1 of 1956)], the 2[High Court] shall not make any order staying the proceedings in relation to the winding up of a banking company, unless the 2[High Court] is satisfied that an arrangement has been made whereby the company can pay its depositors in full as their claims accrue
1Subs. by Act 95 of 1956, s. 14 and Schedule, for "section 173 of the Indian Companies Act, 1913 (7 of 1913)" (w.e.f. 14-1-1957).
2Subs. by Act 52 of 1953, s. 4, for "Court" (w.e.f. 30-12-1953).