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CS Professional · Banking and Insurance - Laws and Practice · Regulatory Framework of Banks

A banking company is being wound up by the High Court. A director is alleged to have committed an offence punishable under the Banking Regulation Act, 1949. Which statement about trial of this offence is correct?

The High Court may, if it thinks fit, try the director's offence in a summary way. Offences relating to the winding up that are not tried summarily are tried by a High Court Judge other than the Judge dealing with the winding up of the banking company.

  1. AThe High Court may, if it thinks fit, try it in a summary way, and offences not so tried go to a Judge other than the one handling the winding upCorrect
  2. BOnly a Metropolitan Magistrate may try it
  3. CIt must always be tried by the same Judge handling the winding up
  4. DSummary trial is barred and a jury must be used

Explanation

Section 45J(1) lets the High Court take cognizance of and try such offences summarily if it thinks fit. Under 45J(4), offences in relation to winding up not tried summarily are tried by a High Court Judge other than the one dealing with the winding up. The jury requirement was omitted.

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