Stay against NDBL upheld
Stay against NDBL upheld
Published: 04:39 am Jul 09, 2009
KATHMANDU: The Patan Appellate Court on Wednesday decided to continue its interim order issued on Sunday, directing the management of Nepal Development Bank Ltd not to operate its bank accounts and suspend its financial transactions. A division bench of judges Mohan Prasad Ghimire and Meera Khadka upheld Sunday’s interim order. A single bench of Judge Devendra Gopal Shrestha had issued the interim order. The bench had also summoned the management of the NDBL to participate in the hearing on whether or not to continue its interim order. The bench was responding to the application filed by Nepal Rastra Bank, demanding the court order to liquidate the troubled bank. The court will issue its final decision in the case on July 15.