The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. A single bench of Justice Ishwar Prasad Khatiwada made such order considering the Land Use Regulations, 2022 as a basis adding that stopping the loan disbursement will have an unfitting impact on the citizens’ fundamental rights. As per the SC’s interim order, the government is asked not to implement its decision until the case was settled.
The SC has ordered that the provision of loan imbursement from the banks and financial institutions should not be stopped as the classification of land from the government was not likely to happen soon. Earlier, the Ministry of Land Management had written to its line agencies preventing the sale of land plots without determining the agricultural land by clearly mentioning four directions of the land.