Section 55, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-6PH]
As at 6 September 2026. In force from 15 January 1948.
55. Appeal.—(1) Any person aggrieved by an order of the Reserve Bank under this Act may, within seven days from the date on which the order is communicated to him, prefer an appeal to the Debts Recovery Tribunal in such form and accompanied by such fee as may be prescribed. (2) The appellate authority may, after giving the appellant an opportunity of being heard, confirm, modify or set aside the order appealed against. (3) No appeal shall lie under this section against an order made with the consent of the parties.
Defined terms in this text (1)
Reserve Bank: Section 2, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S1951P] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
Made under this section, or naming it (0)
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Cited by (2)
Section 58, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-6SF], 15 January 1948, Band A. "section 55".
Rule 9, Reserve Bank (Transfer of Public Ownership) Act Rules, 1949 [S19-ZMY], 3 June 1949, Band A. "section 55 of the Act".
Not held (0)
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Duties published under this section (0)
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