Section 50: Certain claims for compensation barred

No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions [contained in sections 10, 12A, 16, 35A, 35B, [36, 43A and 45] or by reason of the compliance by a banking company with any order or direction given to it under this Act].

Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.

Supreme Court judgments citing the section 50

No Supreme Court judgment in our database cites this section yet.