Section 86: Notice to submit claims

Upon initiating the process of mandatory liquidation of a bank or financial institution, the Liquidator shall, within the time prescribed by the Rastra Bank, have to publish a notice containing the following details asking the persons having any claim of any type with the bank or financial institution to submit his/her details of the claim within one month from the last date of publication of the notice stating his/her claims and the amount he/she may receive in a clear manner:-

(a) To publish a notice in daily Nepali and English languages newspapers at the national level,

(b) To publish such notices at the main places of businesses, banks, or financial institutions and post them at every office in a conspicuous manner.