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

A banking company's statutory auditor, Mr. Sameer Joshi, is accused of misconduct connected with the audit. Under Section 46A of the Banking Regulation Act, 1949, what is his status for Chapter IX of the Indian Penal Code?

Mr. Joshi is deemed a public servant for Chapter IX of the Indian Penal Code, because Section 46A expressly names the auditor of a banking company. No condition about RBI appointment or government ownership applies.

  1. AHe is deemed a public servant as an auditor of a banking companyCorrect
  2. BHe is not a public servant because he is an external professional
  3. CHe is a public servant only if appointed by the RBI
  4. DHe is a public servant only if the bank is government-owned

Explanation

Section 46A expressly lists the auditor of a banking company among those deemed public servants for Chapter IX of the IPC. Ownership of the bank or the appointing authority is irrelevant, so the other options add conditions that the section does not contain.

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