No banking company shall create any charge upon any unpaid capital of the company, and any such charge shall be invalid.
PART II BUSINESS OF BANKING COMPANIES
Section 14: Prohibition of charge on unpaid capital
The Banking Regulation Act, 1949
PART II BUSINESS OF BANKING COMPANIES
The Banking Regulation Act, 1949
No banking company shall create any charge upon any unpaid capital of the company, and any such charge shall be invalid.