The banking sector in Nepal has seen a number of significant Supreme Court decisions that have shaped the industry. These landmark cases have established important precedents and contributed to the development of banking jurisprudence in the country. Here are 10 leading decisions:
- Raghunath Agrawal vs. Nepal Bank Limited’s Board of Directors: This case set a precedent in the banking sector. The Supreme Court’s judgement, delivered by a full bench of Chief Justices Dhanendra Bahadur Singh, Surendra Prasad Singh, and Mahesh Ram Bhakt Mathe, has guided future cases.
- Rastriya Banijya Bank, Janakpur Branch vs. Jhawarmal Goenka: This case set another important precedent. The Supreme Court’s ruling was delivered by a full bench of Judge Hiranyeman Pradhan and Justice Rudra Bahadur Singh.
- Dal Bahadur Budhamagar vs. Nepal Bank Ltd. Central Office Kathmandu: This case established a precedent regarding the bank’s right to collect the sum in principle.
- Phulbari Ltd. vs. Nepal Rastra Bank: This case established a principle regarding the bank’s right to auction the house and land pledged to Nepal Bank Limited.
- Purushottam Madwari vs. Anandabhakta, then-General Manager of Nepal Bank Ltd. Head Office: This case established a precedent regarding the bank’s right to collect the sum in principle.
- Nepal Leather Industries Pvt. Ltd. V. Nepal Investment Bank Limited: This case established a precedent regarding the bank’s right to auction the house and land pledged to Nepal Bank Limited.
These cases underscore the importance of accountability, fair competition, and adherence to legal standards in Nepal’s banking sector. They serve as a reminder that even in a small country like Nepal, the rule of law and fair business practices are paramount.
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