HC can't direct insurer to pay above 1 lakh of guaranteed sum to depositors of liquidating banks

BL: Deposit Insurance and Credit Guarantee Corporation Act, 1961 guarantees repayment of Rs. 1 lakh to each depositor of banking company insured with Deposit Insurance and Credit Guarantee Corporation when that company is in financial difficulty and is ultimately wound up, High Court or any other authority has no power to direct payment in excess of Rs. 1 lakh by ignoring statutory provisions of Act and Regulations made thereunder