You are viewing the translated version of भाडामा लिने व्यक्ति दामासाहीमा परेमा भाडामा लिएको वस्तुको स्थितिः.

Section 638
If the lessee falls into Damasahi, the status of the leased object:

(1) During the term of hire purchase agreement, if the court determines that the lessee has fallen or is about to fall into bankruptcy according to the prevailing law, as a result of that, the liquidator or any other person having the same right to take control of the property of such person shall be the lessee in relation to the goods related to the hire purchase agreement. Use the same rights and fulfill the obligations.
(2) In the event that the lessee is in Damasahi and the related proceedings are pending in any court, the liquidator or the person exercising similar powers as per sub-section (1) may transfer the goods related to the hire purchase agreement to any other person with the permission of such court and in this way such goods In case of transfer, the person who receives the transferred item shall exercise the same rights and obligations as per the hire purchase agreement.