{"id":1914,"date":"2026-05-06T02:24:29","date_gmt":"2026-05-06T02:24:29","guid":{"rendered":"https:\/\/english.bankingkhabar.com\/?p=1914"},"modified":"2026-05-06T02:24:29","modified_gmt":"2026-05-06T02:24:29","slug":"mandatory-3-year-provision-on-sale-of-bank-collateral-assets-removed","status":"publish","type":"post","link":"https:\/\/english.bankingkhabar.com\/?p=1914","title":{"rendered":"Mandatory 3-Year Provision on Sale of Bank-Collateral Assets Removed"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong><a href=\"https:\/\/english.bankingkhabar.com\/?attachment_id=1917\" rel=\"attachment wp-att-1917\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1917\" src=\"https:\/\/english.bankingkhabar.com\/wp-content\/uploads\/2026\/05\/1.jpg\" alt=\"\" width=\"1041\" height=\"539\" \/><\/a>Banking Khabar \/<\/strong> Nepal\u2019s Supreme Court has scrapped a legal requirement that forced banks and financial institutions to sell foreclosed land within three years.<\/p>\n<p style=\"text-align: justify;\">The Constitutional Bench ruled to strike down Section 12C of the Land Act 1964, removing the mandatory deadline. Previously, if a property taken as collateral remained unsold at auction, banks had to sell it within three years\u2014or seek government approval if they failed to do so.<\/p>\n<p style=\"text-align: justify;\">With this decision, banks are no longer bound by the three-year deadline, giving them greater flexibility in managing and selling foreclosed assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banking Khabar \/ Nepal\u2019s Supreme Court has scrapped a legal requirement that forced banks and financial institutions to sell foreclosed land within three years. The Constitutional Bench ruled to strike down Section 12C of the Land Act 1964, removing the mandatory deadline. Previously, if a property taken as collateral remained unsold at auction, banks had [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mandatory 3-Year Provision on Sale of Bank-Collateral Assets Removed - Bankingkhabar<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.bankingkhabar.com\/?p=1914\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mandatory 3-Year Provision on Sale of Bank-Collateral Assets Removed - Bankingkhabar\" \/>\n<meta property=\"og:description\" content=\"Banking Khabar \/ Nepal\u2019s Supreme Court has scrapped a legal requirement that forced banks and financial institutions to sell foreclosed land within three years. The Constitutional Bench ruled to strike down Section 12C of the Land Act 1964, removing the mandatory deadline. 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