chhatramani/Nepal-Legal-Text-Corpus-44laws huggingface dataset:
औद्योगिक व्यवसाय ऐन २०७६

परिच्छेद-९ विविध

अनुसूची-९
(दफा १९ सँग सम्बन्धित)
राष्ट्रिय प्राथमिकताप्राप्त उद्योग
१. घरेलु उद्योग,
२. उर्जामूलक उद्योग,
३. कृषि तथा वन पैदावारमा आधारित उद्योग,
४. पूर्वाधार उद्योग,
५. निर्यातमूलक उद्योग,
६. पूर्वाधार सहितको साहसिक पर्यटन, ग्रामीण पर्यटन, पर्यावरणीय पर्यटन, गल्फ कोर्स, पोलो, पोनी ट्रेकिङ, पदयात्रा पर्यटन, च्याफ्टिङ्, सभा सम्मेलन पर्यटन, खेलकुद पर्यटन, धार्मिक पर्यटन, सांस्कृतिक पर्यटन, मनोरञ्जन पार्क निर्माण तथा सञ्चालन, वन्यजन्तु आरक्ष,
७. खानी तथा खनिजजन्य उद्योग, पेट्रोलियम तथा प्राकृतिक ग्यास तथा इन्धन अन्वेषण तथा उत्पादन,
८. स्वदेशी चुनढुङ्गा प्रयोग गरी क्लिंकर तथा सिमेण्ट उत्पादन गर्ने उद्योग, लेदो रेशा (पल्प) तथा कागज, चिनी, रासायनिक मल (मिश्रण बाहेक), प्राङ्गारिक मल, जुत्ता चप्पल, धागो उत्पादन सम्बन्धी, पशुपालन, माछा पालन, कुखुरा पालन र मौरी पालन सम्बन्धी, पुष्प खेती (फ्लोरिकल्चर), स्वदेशी कच्चा पदार्थमा आधारित रबरको प्रारम्भिक प्रशोधन र रबरजन्य वस्तुको उत्पादन, धूलो दूध, औषधि उत्पादन, फोहोरमैला तथा खेर गएको वस्तुको प्रशोधन, इन्धन वचत गर्ने उपकरण उत्पादन गर्ने उद्योग, प्रदूषण कम गर्ने उपकरण उत्पादन गर्ने उद्योग र अपाङ्गहरुले प्रयोग गर्ने साधन तथा उपकरण उत्पादन गर्ने उद्योग, कृषि यन्त्र उपकरण तथा औद्योगिक मेसिनरी बनाउने उद्योग, विद्युतबाट चल्ने सवारी साधनहरु उत्पादन गर्ने उद्योग, सर्पदेशको औषधि बनाउने उद्योग, आँखाको कृतिम लेन्स उत्पादन गर्ने उद्योग,
९. काठमाडौं उपत्यका, महानगरपालिका क्षेत्र र तराई क्षेत्रका उपमहानगरपालिका क्षेत्रबाहिर स्थापना हुने अस्पताल, नर्सिङ होम, पशु अस्पताल एवं चिकित्सालय, स्वास्थ्य परीक्षण सेवा, स्वास्थ्य प्रयोगशाला, जैविक अनुसन्धानशाला र शिक्षण एवं प्रशिक्षण संस्थाहरु,
१०. सूचना प्रविधि उद्योग,
११. निजी क्षेत्रबाट निर्माण र सञ्चालन हुने औद्योगिक क्षेत्र, विशेष आर्थिक क्षेत्र र उद्योग ग्राममा स्थापना भएका उद्योग,
१२. नेपाल सरकारले आवश्यक मापदण्ड बनाइ उच्च मूल्य र न्यून तौल/आयतन (हाइ प्राइस लो वेट/भोल्युम) भएको पहिचान गरी नेपाल राजपत्रमा सूचना प्रकाशन गरी तोकिदिएका वस्तु उत्पादन गर्ने उद्योग,
१३. नेपाल सरकारले स्वीकृत गरेको राष्ट्रिय एकीकृत व्यापार रणनीति (एन.टी.आई.एस.) ले निर्धारण गरेका वस्तु वा सेवाको उत्पादन गर्ने उद्योग,
१४.चलचित्र निर्माण,
1
१५. खोप उत्पादन गर्ने उद्योग,
1
१६. तरल (लिक्विड) अक्सिजन उत्पादन गर्ने उद्योग।
1 मिति २०७८/०४%२५ गतेको नेपाल राजपत्रमा प्रकाशित सूचनाद्वारा थप।

औद्योगिक व्यवसाय ऐन २०७६

परिच्छेद-९ विविध

अनुसूची-१०
औद्योगिक विकासको आधारमा जिल्लाहरुको वर्गीकरण
(दफा २४ को उपदफा (२) को खण्ड (ग) सँग सम्बन्धित)
(क) अति अविकसित क्षेत्र
१. दार्चुला
२. वैतडी
३. बझाङ्ग
४. बाजुरा
५. अछाम
६. डोटी
७. मुगु
८. डोल्पा
९. हुम्ला
१०. जुम्ला
११. कालीकोट
१२. जाजरकोट
१३. रोल्पा
१४. पूर्वी
१५. पश्चिम रुकुम
१६. मुस्ताङ्ग
१७. मनाङ्ग
१८. सोलुखुम्वु
१९. खोटाङ्ग
२०. ओखलढुङ्गा
२१. ताप्लेजुङ्ग
२२. भोजपुर
२३. पाँचथर
(ख) अविकसित क्षेत्र
१. डडेल्धुरा
२. प्यूठान
३. म्याग्दी
४. दैलेख
५. पर्वत
६. लमजुङ्ग
७. सल्यान
८. गुल्मी
९. बाग्लुङ्ग
१०. गोरखा
११. दोलखा
१२. रामेछाप
१३. सिन्धुली
१४. सिन्धुपाल्चोक
१५. रसुवा
१६. धनकुटा
१७. संखुवासभा
१८. तेह्रथुम
(ग) कम विकसित क्षेत्र
१. कञ्चनपुर
२. कैलाली
३. वर्दिया
४. दाङ
५. सुर्खेत
६. पाल्पा
७. अर्घाखाँची
८. स्याङ्गजा
९. कपिलवस्तु
१०. तनहुँ
११. नुवाकोट
१२. धादिङ्ग
१३. काभ्रेपलाञ्चोक
१४. रौतहट
१५. सर्लाही
१६. महोत्तरी
१७. सिरहा
१८. सप्तरी
१९. उदयपुर
२०. इलाम
Insolvency Act 2063

Preamble
Date of authentication and publication:
4 Mangsir 2063
Amendments to the Prevention of Money Laundering
and Promotion of Business Environment Act, 2080                  2080/12/30
Act number 20 of the year 2063 (2006)
An Act Made to Provide for Insolvency Proceedings
Preamble
: Whereas it is expedient to make legal provisions immediately in relation to the administration, insolvency proceedings of companies which are insolvent or going to be insolvent, being unable to pay debts to creditors or are facing financial difficulties, and in relation to the restructuring of such companies;
Now, therefore, be it enacted by the House of Representatives in the First Year of the issuance of the Proclamation of the House of Representatives, 2063.

Insolvency Act 2063

Chapter – 1  Preliminary

Section 1: Short title and commencement
1) This Act may be called the “Insolvency Act, 2063.”
2) It shall come into force immediately.
Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 3: Prohibition on commencing insolvency proceedings without order of Court
Save as ordered by the Court pursuant to this Act, no person shall commence insolvency proceedings against any company.
Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 5: Notice to be given for payment of debt
1) Prior to making an application to the Court pursuant to Section 4 for insolvency proceedings, a notice shall be sent to the registered office of the company in the prescribed form for the payment of debt.
2) The notice referred to in sub-section (1) shall be signed by the creditor himself or herself or by a person authorized by the creditor on his or her behalf.

Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 6: Application to void notice issued for payment of debt
1) Where the notice received pursuant to Section 5 is not reasonable or where there are any other reasons for not repaying the debt immediately, the concerned company may make an application to the Court in order to void the notice not later than thirty-five days after the date of receipt of that notice.
2) Where the application referred to in sub-section (1) is made, the Court shall issue a notice summoning the creditor giving the notice referred to in Section 5 to appear before the Court within seven days; the notice to be so issued shall also be accompanied by a copy of such application.
3) The Court may make a decision to void or not to void the notice issued pursuant to Section 5 no later than seven days after the date of appearance of the creditor pursuant to sub-section (2) or after the date of expiration of the time prescribed for the appearance before the Court where the creditor has failed to make such appearance.
4) The Court may issue an order to void the notice issued pursuant to Section 5 on the following condition:
(a) There is a clear dispute as to whether the creditor has extended debt to the company or not, or
(b) The debt due to be paid by the company to the credit does not appear to be payable immediately.
5) Where the Court issues an order pursuant to sub-section (4), no notice that is issued to pay the debt can be given to the company again on the same matter, nor can an application be made for the institution of insolvency proceedings until the condition set forth in that sub-section continues to exist.
6) Where the Court does not issue an order pursuant to sub-section (4), the company shall pay the debt of the creditor no later than thirty-five days from that date.
Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 7: Company deemed to have become insolvent
1) Save as proved otherwise, a company shall be deemed to have become insolvent on the following condition:
(a) The general meeting of shareholders adopts a resolution that the company has become insolvent, or a meeting of the board of directors of the company makes such decision, or
(b) The Court issues an order requiring the company to pay the debt, and the debt is not paid up within thirty-five days from the date of receipt by the company of such order or
(c) The company fails to pay the debt within thirty-five days after the service by the creditor on the company a notice for the payment of the debt or fails to make an application to the Court within the said period to void such notice.
2) Nothing contained in this Section shall prevent the establishment of the fact that a company has become insolvent where it is proved from any other matter that the liability of the company exceeds the value of the assets of the company or the company itself admits that it has become insolvent.

Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 8: Application for insolvency proceedings
1) Notwithstanding anything contained in Section 4, no application may be made to the Court for insolvency proceedings in relation to the following company without obtaining prior approval of the following authority:
(a) In the case of a bank or financial institution carrying on banking and financial business, the Nepal Rastra Bank, or
(b) In the case of an insurance company carrying on insurance business, the Insurance Board formed pursuant to the Insurance Act, 2049, or
(c) In the case of a company which cannot undergo voluntary liquidation without the approval of the competent body or
authority, except that mentioned in Clause (a) or (b), such authority.
2) Every application to be made for insolvency proceedings in relation to a company mentioned in sub-section (1) shall be accompanied by a copy of the approval given by the authority set forth in that sub-section for that purpose.
Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 9:  Action on application
1) Where an application is made to institute or cause to be instituted insolvency proceedings in relation to any company pursuant to Section 4, the Court shall register the application where it has been made duly and so appoint the date for hearing the same that such hearing can take place within fifteen days.
2) Except where a company itself makes an application for insolvency proceedings, after the registration of an application referred to in sub-section (1), a notice shall be issued in the name of the concerned company to submit statements in writing, if any, for not instituting such proceedings within seven days and be delivered to the registered office of such company.
3) Where the Court considers reasonable, it may, prior to the hearing on an application referred to in this Section, and as per necessity, order the authority set forth in sub-section (1) of Section 8 to submit statements of reasons if any, for not instituting any proceedings as requested by the applicant prior to the date appointed for hearing and shall publish a notice thereof at least twice in any daily newspaper of national circulation so that the shareholders, creditors of the concerned company or any other persons having to deal with the concerned company and the Stock Exchange, as well, where such company is enlisted in the Stock Exchange get such information.
4) Any company or person that receives a notice issued or published pursuant to sub-section (2) or (3) shall submit statements in writing, accompanied by the reason, if any, for not instituting the insolvency proceedings of the concerned, within the time specified by the Court.

Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 10: Decision to be made upon keeping on hearing
1) Notwithstanding anything contained in the laws in force, the Court shall keep on hearing an application made pursuant to this Chapter after commencement of the hearing on the application on the day appointed for the hearing on the application pending the final settlement thereof and make a decision thereon.
Provided that this provision shall not prevent the keeping of a hearing on that matter on the day on which the Court remains open where the hearing cannot be completed or a decision cannot be made on the day of the hearing because of time constraints.
2) Upon the completion of the hearing referred to in sub-section (1), the Court shall make an order to institute or not to institute insolvency proceedings in relation to the company concerned.
3) In making an order pursuant to sub-section (2), the Court shall order to appoint an insolvency professional as an inquiry official for the purposes of making insolvency-related inquiries.
4) In making an appointment of an inquiry authority pursuant to sub-section(3), a person whom the Court thinks fit, out of the persons whose names are included in the list approved by the Office for that purpose, shall be appointed.
Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 11: Power to issue interim order
1) Where, in making a hearing on an application made to the Court pursuant to Section 4, it appears that there exists in the Company any of the following situations which may prejudice the interests of the creditor or any other person  dealing with the Company, the Court may, on an application by the concerned party or at its own discretion, issue an interim order:
(a) The assets of the Company have been sold and disposed of wrongfully, or there exists a possibility of such sale and disposal,
(b) The management of the Company has not been carried out properly,
(c) Any legal action is going to be instituted, or such action is going to be enforced, or there exists a possibility of such enforcement in such a manner as to prejudice the assets of the Company.
2) In issuing an interim order pursuant to Sub-section (1), the Court may issue an order restraining from doing any or all of the following acts:
(a) Transferring, selling and disposing of, or otherwise mortgaging or pledging, any assets of the Company, other than that business of the Company which it has been carrying on in the ordinary course of business;
(b) Transferring the shares of the Company in any manner or altering the status of the shareholders of the Company in any manner;
(c) Withholding or foreclosing any assets of the Company by any person; or
(d) Instituting any legal action or keeping on such action or taking any action or foreclosing by any creditor or person against the assets of the Company or any assets owned or possessed or foreclosed by the Company.
3) Where an order is issued by the Court pursuant to sub-section (2), information thereof shall be given to the concerned Company, company registrar and Office, and where the Court thinks fit, it may also issue an order requiring to publish such information in a daily paper of national circulation in a manner that the general public can get such information.
4) The Court may, if it considers necessary, issue an order to appoint any appropriate person as the interim administration of the Company for the interim management of the Company during the currency of the interim order.
5) The functions, duties and powers of the interim administrator appointed pursuant to sub-section (4) shall be as prescribed by the Court at the time of such appointment.
6) Notwithstanding anything contained elsewhere in this Act, where the Court issues an order for inquiry into insolvency proceedings or dismisses the application, the interim order issued pursuant to this Section shall ipso facto be ineffective.

Insolvency Act 2063

Chapter-2 Insolvency Proceedings

Section 12: Application not to be withdrawn
Notwithstanding anything contained in the laws in force, an application made to the Court for insolvency proceedings pursuant to Section 4 cannot be withdrawn except as permitted by the Court.
Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 13: To inquire into insolvency proceedings
() Where the Court issues an order to inquire into insolvency proceedings pursuant to sub-section (3) of Section 10, the inquiry official shall independently inquire into the financial situation of the concerned company in order to determine the following:
(a) Whether or not there should be issued an order for immediate liquidation of the company by the reason that its financial situation cannot be improved,
(b) Whether or not the period of inquiry, as referred to in Section 14, should be extended,
(c) Whether or not there should be issued an order for the restructuring of the company through the restructuring program,
(d) Whether or not the company has become or is likely to become insolvent.
2) The inquiry official shall make an inquiry pursuant to sub-section (1) and submit an inquiry report to the Court within the period specified by the Court, and such report shall contain,
inter alia
, the resolution, if any, adopted by the meeting of creditors, the company’s report and evaluation and recommendation made by the official.

Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 14: Power to extend period of insolvency proceedings
1)Where the inquiry officer, showing a reasonable reason why the financial situation of the company cannot be inquired into within the period of inquiry as specified pursuant to sub-section (2) of Section 13, makes an application to the Court for the extension of that period, the Court may, if it finds the reasonable ground, extend the period as appropriate.
2) Where the period of inquiry is extended pursuant to sub-section (1), the information thereof shall be given to the concerned company.
Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 15:  Management of company during inquiry period
1) Notwithstanding anything contained in the laws in force, the board of directors of the company shall carry out the management and ordinary transactions of the company during the period of inquiry of insolvency proceedings under the regular supervision of the inquiry official.
2) Notwithstanding anything contained in sub-section (1), where the inquiry officer submits to the Court a report indicating that the board of directors of the company has not operated the company properly, the Court may issue an order to remove the board of directors and order the inquiry officer to carry out the management and ordinary transactions of the company.
3) Where the Court orders the inquiry officer to carry out the management and ordinary transactions of the company pursuant to sub-section (2), the inquiry officer shall carry out the transactions accordingly.
4) Where any special transaction such as the sale of the assets or business of the company shall be carried out in the course of operating the ordinary business of the company pursuant to sub-section (3), an application setting out the reason therefor shall be made to the Court for permission, and where the Court issues an order granting such permission, the inquiry officer may carry out such transaction.
1
5) If at the time of making an application in accordance with sub-section (4), fifty percent or more of the total assets of the company are to be sold, then a decision in this regard shall be taken by the assembly or group of moneylenders and a certified copy of such decision shall be submitted along with the application.
1 Amendment to the Prevention of Money Laundering and Promotion of Business Environment Act, 2080.

Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 16:  Report to be made by director
A person who has held the office of director of the company at the time when the Court has issued an order to inquire into insolvency proceedings pursuant to sub-section (3) of Section 10 or during the period of one year prior thereto shall submit to the Court a report on the financial situation and transactions of the company as at the time of his or her retirement, in the prescribed format.
Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 17:  Power to raise loans
1)Where the inquiry officer considers the need for any amount to keep on the company or operate the ordinary transactions of the company, the inquiry officer may borrow loans from any person, with or without furnishing necessary security.
2) Any loans borrowed pursuant to sub-section (1) shall be deemed to be the amount spent during the period of inquiry into insolvency proceedings, and such amount shall be paid in order of priority as provided in this Act.
Provided that where the security furnished by the company to borrow a loan has already been furnished as a security with any person, the order of priority shall not apply in relation to the claim for security except in the case where the inquiry official has made an agreement of a person entitled to claim the same.

Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 18: Report to be submitted by inquiry officer
1) The inquiry officer shall inquire into the financial and business situation of the Company and submit a report thereof to the Court within the period of inquiry.
2) The inquiry officer shall determine any one matter set forth in sub-section (1) of Section 13 and make a recommendation report referred to in sub-section (1) containing the reasons and grounds for such determination, and such report shall contain,
inter alia
, the actual financial situation of the Company, details obtained by the inquiry official upon making an inquiry and his or her opinion and findings.
3) Where the recommendation made pursuant to sub-section (2) has been submitted to the meeting of creditors, whether a majority of the creditors attending such meeting has accepted such recommendation or not shall also be mentioned.
4) A copy of the report submitted pursuant to sub-section (1) shall be sent to each of the concerned companies and the Office, and the concerned Company and the Office shall make arrangements to maintain the report so received that the shareholders, directors and creditors of the Company may inspect such report.
Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 19:  Ipso facto suspension
1) Notwithstanding anything contained in the laws in force, where the Court issues an order to institute insolvency proceedings in relation to any company pursuant to sub-section (2) of Section 10, any of the following acts or actions shall not be done or taken; and any acts or actions being done or taken but not completed shall ipso facto be  suspended:
(a) Transferring, selling and disposing of the shares of the company or altering the status of any shareholder,
(b) Transferring, selling and disposing of any assets of the company or mortgaging or pledging the same as collateral in any manner,
(c) Foreclosing any assets of the company or realizing any security according to any judgment or order,
(d) Preempting any property leased to the company by the lessor or instituting any legal action in relation thereto,
(e) Paying any debt whose payment was outstanding or which had become payable at the time when the Court made an order to institute insolvency proceedings pursuant to Sub-section (2) of Section 10 or pledging of security in consideration thereof, and
(f) Transferring or withdrawing money in the fund of the company.
2) Notwithstanding anything contained in sub-section (1), where any person makes an application to the Court claiming that the automatic suspension of any transaction pursuant to the said Sub-section will cause a loss to that person, the Court may, if it holds that the statements of the applicant are reasonable and that this does not prejudice the interests of the company or its creditors, issue an order to do any transaction.

Insolvency Act 2063

Chapter-3 Inquiry into Insolvency Proceedings

Section 20: Prohibition on cutting down essential services
1
Notwithstanding anything contained in any law for the time being in force, no person or institution supplying electricity, drinking water, sewerage, gas, telecommunication services, or any other essential goods or services which are being supplied pursuant to a contract for the conduct of the regular business of the company shall, without the leave of the court, stop or curtail the supply of such goods or services to such company until such action is completed from the date on which the court orders the initiation of proceedings in respect of any dispute in accordance with sub-section (2) of section 10.
1
Amendments to the Prevention of Money Laundering and Promotion of Business Environment Act, 2080.