The issue of stopping the merger of Nabil and Nepal Bangladesh Bank has been withdrawn and the merger process will move forward

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The issue of stopping the merger between Nabil Bank and Nepal Bangladesh Bank has been withdrawn. With the withdrawal of the writ petitioner, the merger process between the two banks will now move forward.

A single bench of Supreme Court Judge Ishwar Prasad Khatiwada had ordered to stop the merger immediately.

The issue was referred to a joint sitting to hear both sides after the single bench ordered not to proceed with the merger immediately. The case was scheduled to be heard on Tuesday but could not be heard on Tuesday.

On Thursday, the judges, Drs. A hearing was scheduled in the bench of Ananda Mohan Bhattarai and Susmalatha Manandhar. However, the case has been withdrawn before the hearing.

As soon as the issue is returned, the merger process between the two banks will move forward. NRB has already given in-principle approval for the merger of the two institutions and the banks have called a special general meeting on May 22 for the acquisition.

 

 

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