Q.
How can the bank and financial institutions be liquidated as per the banks and financial
institutions act,2073? Explain (10 Marks)
English -Answer:
The liquidation of Banks and Financial Institutions (BFIs) in Nepal is governed by the Banks
and Financial Institutions Act, 2073 (2016) (commonly known as BAFIA 2073). The Act
specifies provisions regarding the circumstances and procedures under which banks and
financial institutions can be liquidated.
1. Circumstances Leading to Liquidation
According to Section 78 of BAFIA 2073, a bank or financial institution may be liquidated in
the following circumstances:
a. Insolvency: If the bank or financial institution becomes insolvent and cannot fulfill
its obligations.
b. Regulatory Violation: If it violates banking laws or fails to meet the conditions or
directives issued by the Nepal Rastra Bank (NRB).
c. NRB Recommendation: If the Nepal Rastra Bank (NRB), based on an inspection or
supervision, recommends liquidation due to the institution's inability to operate
soundly.
d. Voluntary Liquidation: If a financial institution passes a resolution in its General
Meeting to wind up, subject to NRB approval.
2. Liquidation Process
The following steps are outlined for liquidation under Section 78–85 of BAFIA 2073:
a. Petition for Liquidation
Nepal Rastra Bank (NRB) may file a petition to the concerned court requesting
liquidation.
The petition can also be filed by the shareholders, depositors, or creditors under certain
conditions.
b. Court Decision
Upon reviewing the petition and hearing the parties involved, the court may order the
liquidation of the bank or financial institution.
c. Appointment of Liquidator
After the court issues the liquidation order:
o NRB appoints a Liquidator to carry out the liquidation process.
o The liquidator must be an independent and qualified person approved by NRB.
d. Liquidator’s Duties
The Liquidator is responsible for the following:
Take over Assets and Liabilities: Gain control over the bank’s assets, liabilities, and
records.
Prepare Reports: Assess the financial situation and prepare a report for the court and
NRB.
Settle Claims: Settle claims of depositors, creditors, and other stakeholders as per
priority.
Asset Disposal: Sell the assets of the bank to recover funds.
Distribute Proceeds: Distribute the proceeds to claimants in the order of priority.
e. Notification of Liquidation
The liquidator must publish a public notice regarding the liquidation in national
newspapers and inform all stakeholders.
3. Priority of Payments
According to Section 84 of BAFIA 2073, the proceeds from the liquidation are distributed in
the following priority:
1. Expenses: Costs related to the liquidation process.
2. Depositors: Payment to depositors up to the guaranteed amount (as specified).
3. Secured Creditors: Creditors who have claims secured by collateral.
4. Unsecured Creditors: Other creditors who do not have secured claims.
5. Shareholders: Remaining funds (if any) are distributed to shareholders.
4. Restrictions and Protection
During the liquidation process:
o The bank cannot engage in new business activities.
o Depositors’ Rights: The depositors are given the highest priority to ensure their
deposits are safeguarded as much as possible.
Nepal Rastra Bank may take further steps to ensure the liquidation process is
conducted transparently and fairly.
5. Role of Nepal Rastra Bank (NRB)
As the regulatory body, NRB plays a central role in:
Filing the liquidation petition.
Appointing and monitoring the liquidator.
Supervising the overall liquidation process to protect public interest, especially
depositors.
Key Sections of BAFIA 2073 Relevant to Liquidation
1. Section 78: Conditions for liquidation.
2. Section 79: Appointment of a liquidator.
3. Section 84: Priority of payments.
4. Section 85: Miscellaneous provisions related to liquidation.
Conclusion
Under BAFIA 2073, the liquidation of banks and financial institutions is a regulated and
systematic process overseen by Nepal Rastra Bank and the courts. It ensures that the interests
of depositors, creditors, and stakeholders are protected and the liquidation process is conducted
in an orderly manner.
Nepali –Answer:
नेपालमा बैंक तथा वित्तीय संस्थाको (Liquidation) विघटन सम्बन्धी प्रािधानहरू बैंक तथा वित्तीय सस्ं था ऐन,
२०७३ (BAFIA 2073) अन्तर्गत व्यिस्था र्रिएको छ। यस ऐनले कुनै बैंक िा वित्तीय संस्थालाई के कस्ता
अिस्थामा liquidate र्नग सवकन्छ ि त्यसको प्रविया के हुन्छ भन्ने स्पष्ट रूपमा उल्लेख र्िे को छ।
१. वलवविडेशनको आधाि (Sec ७८)
बैंक िा वित्तीय सस्ं था वनम्न अिस्थाहरूमा वलवविडेशनमा जान सवछ:
1. वििावलया (Insolvency):
o बैंक िा वित्तीय संस्था आफ्नो िावयत्िहरू पिू ा र्नग असमथग भएमा।
2. वनयम उल्लघं न:
o नेपाल िाष्ट्र बैंक (NRB) ले तोके को वनिेशन, शतग िा कानन ू को उल्लंघन भएमा।
3. िाष्ट्र बैंकको वसफारिस:
o नेपाल िाष्ट्र बैंकले वनिीक्षण ि सप ु रििेक्षण र्िाग संस्थाको अिस्था र्म्भीि रूपमा कमजोि िेवखएमा
वलवविडेशनको वसफारिस र्नग सवछ।
4. स्िेवछछक वलवविडेशन:
o बैंक िा वित्तीय सस् ं थाको साधािण सभाले स्िेवछछक रूपमा वलवविडेशनको प्रस्ताि पारित र्िे मा।
यो पवन नेपाल िाष्ट्र बैंकको स्िीकृ वत वलएि मात्र र्नग सवकन्छ।
२. Liquidation Process (sec 78)
क. वनिेिन पेस र्ने प्रविया (Application)
नेपाल िाष्ट्र बैंकले सम्बवन्धत अिालतमा liquidation वनिेिन विन सवछ।
के ही विशेष अिस्थामा, शेयिधनी, वनक्षेपकताग, िा ऋणिाताले पवन वनिेिन विन सवछन।्
ख. अिालतको वनणगय
अिालतले सम्बवन्धत पक्षहरूको सनु िु ाई र्िे पवछ वलवविडेशन आिेश जािी र्नग सवछ।
र्. वलवविडेटिको वनयवु ि (Liquidator Appointment)
अिालतले वलवविडेशन आिेश जािी र्िे पवछ:
o नेपाल िाष्ट्र बैंकले वलवविडेटि (विघटनकताग) वनयि
ु र्छग ।
o वलवविडेटि स्ितन्त्र ि योग्य व्यवि हुनप
ु छग ।
घ. वलवविडेटिको काम
वलवविडेटिको प्रमख
ु वजम्मेिािीहरू यस प्रकाि छन:्
सम्पवत्त ि िावयत्िको वनयन्त्रण:
o बैंकका सबै सम्पवत्त, ऋण ि अवभलेखहरूको वनयन्त्रणमा वलने।
रिपोटग तयाि पाने:
o बैंकको वित्तीय अिस्था मल् ू याङ्कन र्िी अिालत ि िाष्ट्र बैंकलाई प्रवतिेिन पेश र्ने।
िाबीहरूको भि ु ानी:
o वनक्षेपकताग, ऋणिातालर्ायत अन्य िाबीधािकहरूको भि ु ानीको व्यिस्था र्ने।
सम्पवत्त वबिी र्ने:
o बैंकका सम्पवत्तहरू वबिी र्िी िकम सक ं लन र्ने।
िकमको बााँडफााँड:
o संकवलत िकमलाई प्राथवमकताका आधािमा बााँडफााँड र्ने।
ङ. वलवविडेशनको सचू ना
वलवविडेटिले सािगजवनक सचू ना प्रकाशन र्िे ि सबै सम्बवन्धत पक्षलाई जानकािी र्िाउनेछ।
३. भि
ु ानीको प्राथवमकता (Sec ८४)
बैंक तथा वित्तीय संस्थाको सम्पवत्त वबिीबाट प्राप्त िकमलाई वनम्न प्राथवमकताका आधािमा बााँडफााँड र्रिन्छ:
1. वलवविडेशन खचग:
o वलवविडेशन प्रवियामा लार्ेको खचग।
2. वनक्षेपकतागहरू:
o ग्यािे न्टी र्रिएको वनक्षेप िकम भि
ु ानी।
3. वधतो ऋणिाता (Secured Creditors):
o वधतो िाखेको सम्पवत्तको आधािमा ऋण विएका ऋणिाता।
4. अनवधतो ऋणिाता (Unsecured Creditors):
o अन्य ऋणिाताहरू जसको िाबी वधतो नभएको हो।
5. शेयिधनीहरू:
o बााँकी िहेको िकम (यवि भएमा) शेयिधनीहरूलाई बााँडफााँड र्रिन्छ।
४. नेपाल िाष्ट्र बैंकको भवू मका
नेपाल िाष्ट्र बैंक (NRB) ले वलवविडेशन प्रवियामा मख्ु य भवू मका वनिागह र्छग :
वलवविडेशनको वसफारिस र्नग।
वलवविडेटि वनयि ु र्िी प्रविया वनर्िानी र्नग।
वनक्षेपकतागहरूको वहत ि सािगजवनक विश्वासको संिक्षण र्नग।
५. विशेष प्रािधानहरू
वलवविडेशनको अिवधमा बैंकले नयााँ कािोबाि र्नग पाउाँिनै ।
वनक्षेपकतागहरूलाई प्राथवमकता विइन्छ जसले उनीहरूको पैसा सिु वक्षत र्ने व्यिस्था सवु नवित र्छग ।
वनष्ट्कषग
बैंक तथा वित्तीय सस्ं था ऐन, २०७३ ले वलवविडेशन प्रवियालाई व्यिवस्थत, वनयवन्त्रत ि सिु वक्षत बनाउन नेपाल िाष्ट्र
बैंक ि अिालतको भवू मका सवु नवित र्िे को छ। यो प्रवियाले विशेषर्िी वनक्षेपकतागहरूको वहतको िक्षा र्ने उद्देश्य
िाखेको छ।