Section 92: Powers to sell Assets

The Liquidator may, subject to the directives given by the Rastra Bank, cause the auction of the entire assets of the bank or financial institution, including the assets mortgaged as collateral security of the approved secured claim of the creditor’s bank or financial institution as follows:-

(a) At the place of transaction of the securities, foreign currencies or other assets that may be sold easily in the market,

(b) The securities given for security of the loan of creditor, foreign currencies or other assets that may be sold easily in the market by the creditors,

(c) In case the Liquidator deems that no reasonable value could be received by auction of assets, to sell it in any manner,

(d) To make other provisions as prescribed by the Rastra Bank.