(1) For the liquidation of a bank or financial institution that is under compulsory liquidation and whose license has been revoked by the National Bank in accordance with this paragraph, the liquidator shall submit an application to the court after completion of the liquidation process along with the details of the process. (2) According to sub-section (1), the liquidator shall apply to the court. If it is done, the court may, after conducting the necessary investigation, give a decision that such bank or financial institution has gone into compulsory liquidation. (3) According to sub-section (2), the liquidator shall publish the decision given by the court in Nepali or English language at least once in a national level daily newspaper and so on. While publishing, the main subject of the court order and revocation report should also be mentioned. (4) After the publication of the notice as per sub-section (3), the liquidator shall request the company registrar to remove the name of the said bank or financial institution from the list of company registration and accordingly the company registrar shall remove the said bank or financial institution. The notice that the name of the institution has been removed from the company's registration book shall be published in the Nepal Gazette. (5) After the notice of removal of the name of the bank or financial institution which has been liquidated in accordance with sub-section (4) is published in the Nepal Gazette, the process of compulsory liquidation of the said bank or financial institution shall end and such bank, financial institution shall be terminated. The institution shall be deemed to have been duly dissolved. (6) Due to the compulsory liquidation of the bank or financial institution, if any director, executive head, officer, employee, shareholder or other person of the said bank or financial institution has any liability under this Act or prevailing law, such liability shall remain.