Kathmandu, June 21
The Supreme Court has issued an interim order not to stop the mortgage of land.
The Ministry of Land Management, Cooperatives and Poverty Alleviation on June 10 has said people were not allowed to mortgage their land as collateral until the land is classified as per the Land Use Regulation 2021.
The Supreme Court, stating that such a rule would affect a number of people, decided to give an interim order to the government to not implement its decision immediately.
The court said that such an order was against the basic fundamental rights of the citizen. Following the decision, people can now use their land as collateral and take loans from financial institutions.
