The State-Associated Banks (Miscellaneous Provisions) Act, 1962

(1) This Act may be called the State-Associated Banks(Miscellaneous Provisions) Act, 1962. (2) Section 3, except clauses (ii), (iv), and (vii) thereof, shall come into force on such date1as theCentral Government may, by notification in the Official Gazette, appoint; and the rest of this Act shallcome into force at once.

[Amendment of Act 23 of 1955.] Rep. by the Repealing and Amending Act, 1974 (56 of 1974), s. 2and First Schedule (w.e.f. 20-12-1974).

[Amendment of Act 38 of 1959.] Rep. by s. 2 and First Schedule, ibid. (w.e.f. 20-12-1974).

[Amendment of Act 18 of 1891.] Rep. by s. 2 and the First Schedule, ibid. (w.e.f. 20-12-1974).

(1) Notwithstanding anything to the contrarycontained in any other law or in any order or other instrument-- (a) the Central Government may by order appoint one or more officers to take over themanagement of the Dholpur bank or to wind up its affairs and distribute its assets and any expenditureincurred in connection with such appointment, management, winding up or distribution shall bepayable by that bank; (b) the principal civil court of original jurisdiction in the district in which the Dholpur bank'shead office is situated shall have exclusive jurisdiction to entertain and decide any claim made by oragainst the Dholpur bank or any question whatever, whether of law or of fact, which may relate to orarise in the course of the winding up of that bank, whether such claim or question has accrued orarisen before or accrues or arises after the date of the winding up order, and any suit or other legalproceeding, whether of a civil or criminal nature, relating to any such claim or question and pendingin any other court at the commencement of this Act shall not be proceeded with except in accordancewith this section; (c) in regard to the admissibility of the entries in the books of account as evidence in the course ofthe proceedings for the winding up of the bank, the settlement of the list of debtors of the bank, thepassing of orders for the payment of the amounts due by the said debtors, the execution of the saidorders or any other orders or decrees of the court, the priority of the claims on the bank, the making ofpreferential payments and the discharge of the other liabilities of the bank and any other incidental orconnected matters, the law relating to the winding up of banking companies, as in force for the timebeing, shall apply as if the Dholpur bank were a banking company; (d) the period of limitation for any suit or application relating to any payment due to the Dholpurbank which has accrued before or may accrue on or after the date of the first appointment of theofficer in change of winding up of the bank shall be twelve years from the date of the accrual of theclaim or five years from the date of such first appointment of the officer aforesaid, whichever mayend later; and (e) after the repayment of all the deposit liabilities and any other amounts due to be paid by thebank including the amounts due to the Government of Rajasthan, the remaining assets, if any, of thebank shall be utilised, as far as may be, for the purposes and objects specified in the State Bank,Dholpur Act, 1915, and other relevant documents. (2) In this section, "Dholpur bank" means the bank known as the Dholpur State Bank and governed atthe commencement of this section by the State Bank, Dholpur Act, 1915.