Supreme Court Ruling in Favor of Nepal Finance: A Win After Years of Legal Battles!
In a significant legal victory, Nepal Finance has finally triumphed in a long-standing court case that has been ongoing since 2075 BS. The Supreme Court delivered its judgment on Thursday, August 15th, overturning a previous ruling by the High Court. This Nepal Finance news is a major development for the financial institution, potentially unlocking the path to recovering millions. This Supreme Court decision offers financial relief and reinforces financial regulations.
What was the case about?
The roots of this legal dispute go back to 2067 BS, when the then-Lalitpur Finance provided a loan of 13 crore to an individual named “Bista.” The collateral for the loan was land registered under the name of a “Subedi.” When Bista defaulted on the loan repayment, the company initiated the process of collateral liquidation.
However, Subedi filed a case in the Kathmandu District Court, seeking to halt the collateral sale, arguing that the mortgage deed had not been executed. The Kathmandu District Court ruled in favor of the then-Lalitpur Finance in 2073 BS. Subsequently, Subedi appealed to the High Court, which reversed the decision, ruling in Subedi’s favor. Following this, the company filed a petition with the Supreme Court.
The Supreme Court’s latest ruling marks a turning point. The judges, in their wisdom, have sided with Nepal Finance, reversing the High Court’s decision. This Supreme Court ruling will likely have positive implications for the recovery of funds tied up in this protracted legal battle. Investment news related to Nepal Finance will certainly be affected.
This Supreme Court judgment is crucial for Nepal Finance, and the recovery of funds is expected to commence. The legal outcome solidifies the financial stability of the institution. This is a crucial development for finance in Nepal. Stay tuned for more updates on this exciting financial news. This victory is a clear sign of the strength of the financial system.
