Secured Transaction Act, 2063 (2006)
Section 53
Right Of Security Giver To Redeem Collateral
(1)Unless otherwise agreed in writing, the security giver or any other security holder may, while satisfying all obligations secured by the collateral in the event of default in the
performance of obligation, redeem the collateral by paying expenses reasonably incurred by the security holder in taking possession, holding, selling, or preparing for sale and disposal of, the collateral including reasonable
fees paid to legal practitioner and other expenses incurred in legal action.
(2) Redemption may be made before the security holder has disposed of the collateral or entered into a contract for its disposal or before the obligation has been discharged.
Secured Transaction Act, 2063 (2006)
Chapter - 4
Section 26: Maturality Of Security InterestSection 27: Continuity Of MaturitySection 28: Priority Among Security Interests In The Same CollateralSection 29: Priority Of Security Interest Over Right Of Lien HolderSection 30: Effect Of Purchase Of CollateralSection 31: Lessee Of CollateralSection 32: Notice Of Purchase Money Security InterestSection 33: Disposition Of Collateral And Proceed ThereofSection 34: Priority Of Purchase Money Security Interest In EquipmentSection 35: Priority Of Purchase Money Security Interest In Inventory Or LivestockSection 36: Priority Of Right Of RetentionSection 37: FixturesSection 38: CropsSection 39: AccessionsSection 40: Commingled GoodsSection 41: Purchase Of Secured Sales Contracts And InstrumentsSection 42: AssignmentSection 43: Restriction On Sale Or AssignmentSection 44: Future AdvancesSection 45: Alteration In Priority