Banking Regulation Act, 1949
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 202[contained in sections, 10, 12A, 16,
35A, 35B, 262[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.]