Section 17: Time and limitation for the Lodgement of First Information Report

1) In regard to an offence under this Act, a First Information Report may be lodged within one year from the date the offence comes to the knowledge, and the suit shall have to be lodged within six months from the date the First Information Report is so lodged with the Court as fixed by the Government of Nepal with publishing a notice in Nepal Gazette.

2) Notwithstanding anything contained hereinabove in sub-section (1), a lawsuit may, at any time, be initiated against an employee or office-bearer of a bank or financial institution, who caused misappropriation or loss of assets of the Bank or Financial Institution during his/her assumption of service in any post thereof and there shall be no obstruction in initiating a lawsuit even after such office-bearer or employee retires from his/her service.