The Central Government notifies Punjab National Bank as eligible to be appointed as the official liquidator for the winding up proceedings of specific banking companies by the Calcutta High Court.
Detailed Summary
The Ministry of Finance (Department of Financial Services), through Notification S.O. 2476(E) dated 3rd June, 2025, has exercised powers conferred by Section 39 of the Banking Regulation Act, 1949 (10 of 1949). This notification declares Punjab National Bank eligible for appointment as the official liquidator for winding up proceedings by the Calcutta High Court. The proceedings concern thirty-two specified banking companies, including Associated Bank of Tripura, Bank of Calcutta Ltd., Beleghata Bank Ltd., Bengal Bank Ltd., Berhampore Bank Ltd., Bishnupur Bank Ltd., Calcutta Commercial bank Ltd., Calcutta Industrial Bank Ltd., Calcutta National Bank Ltd., Central Calcutta Bank Ltd., Comrade Bank Ltd., East Bengal Commercial Bank Ltd., Eastern Traders Bank Ltd., Economic Bank Ltd., Girish Bank Ltd., Hazradi Bank Ltd., Kuver Bank Ltd., Lakshmi Industrial Bank Ltd., Mercantile Exchange Bank Ltd., Nath Bank Ltd., National Economic Bank Ltd., Noakhali Union Bank Ltd., Northern Bank Ltd., Pacific Bank Ltd., People's Credit Bank Ltd., Pioneer Bank Ltd., Pioneer Commercial Bank Ltd., Sonar Bangla Bank Ltd., Sree Bank Ltd., Sterling Bank Ltd., Subarban Bank Ltd., and Tripura Modern Bank Ltd. Manasa Gangotri Kata, Director, signed the notification.
Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-03062025-263564
EXTRAORDINARY
PART II-Section 3-Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 2417]
NEW DELHI, TUESDAY, JUNE 3, 2025/JYAISTHA 13, 1947
MINISTRY OF FINANCE
(Department Of Financial Services)
NOTIFICATION
New Delhi, the 3rd June, 2025
S.O. 2476(E). In exercise of the powers conferred by Section 39 of the Banking Regulation Act,
1949 (10 of 1949), the Central Government hereby notifies the Punjab National Bank as eligible to be
appointed as the official liquidator for the purposes of the said section in the proceedings for the winding up
by the Calcutta High Court in respect of the following banking companies, namely:—
1. Associated Bank of Tripura
2. Bank of Calcutta Ltd.
3. Beleghata Bank Ltd.
4. Bengal Bank Ltd.
5. Berhampore Bank Ltd.
6. Bishnupur Bank Ltd.
7. Calcutta Commercial bank Ltd.
8. Calcutta Industrial Bank Ltd.
9. Calcutta National Bank Ltd.
10. Central Calcutta Bank Ltd.
11. Comrade Bank Ltd.
12. East Bengal Commercial Bank Ltd.
13. Eastern Traders Bank Ltd.
14. Economic Bank Ltd.
15. Girish Bank Ltd.
16. Hazradi Bank Ltd.
17. Kuver Bank Ltd.
18. Lakshmi Industrial Bank Ltd.
19. Mercantile Exchange Bank Ltd.
20. Nath Bank Ltd.
21. National Economic Bank Ltd.
22. Noakhali Union Bank Ltd.
23. Northern Bank Ltd.
24. Pacific Bank Ltd.
25. People's Credit Bank Ltd.
26. Pioneer Bank Ltd.
27. Pioneer Commercial Bank Ltd.
28. Sonar Bangla Bank Ltd.
29. Sree Bank Ltd.
30. Sterling Bank Ltd.
31. Subarban Bank Ltd.
32. Tripura Modern Bank Ltd.
[F. No. 23/01/2023-BO.II]
MANASA GANGOTRI KATA, Director
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📜 Ministry of Finance: Appointment of Official Liquidator as per Section 39 of Banking Regulation Act, 1949
Published: 03 Jun 2025
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