Why is DIC the liquidator for Clico Investment Bank Limited (CIB)?

CIB was a member institution of the Deposit Insurance Fund.

Under S44 of CBTT Act the DIC has the power to act as Liquidator for its member institutions.

By an order of the High Court dated October 17, 2011, Clico Investment Bank Limited was ordered to be wound up and DIC was appointed liquidator.

Comments are closed