Kathmandu – Nepal Bank Limited has issued a 35-day public notice for the auction of a mortgaged house and land under its custody due to non-repayment of loan by borrowers.
According to the notice first published on 2083/02/20, the concerned borrowers and guarantors have been repeatedly requested to clear their outstanding loan amounts, including principal and interest, but have failed to do so. The bank has now given a final 35-day deadline, until 2083/03/23, to settle the dues by contacting the concerned branch.
If the loan is not cleared within the stipulated time, the bank will proceed with blacklisting the borrowers, directors, partners, and guarantors as per applicable banking laws and regulations.
The bank has further announced that the mortgaged property will be sold through a public auction under the authority granted by the Bank and Financial Institutions Act, 2073. The auction bidding will take place on the 36th day from the date of publication (2083/03/24) at 11:00 AM at the respective branch office. If the date falls on a public holiday, the auction will be conducted on the next working day.
Interested bidders must submit a 10% deposit of the quoted bid amount on the same day. The remaining amount must be paid within 35 days of bid approval, failing which the deposit will be forfeited.
The bank reserves the full right to accept or reject any bid and to finalize the sale at its discretion. Further details can be obtained from the concerned branch during office hours.
Published by Nepal Bank Limited on 2083-2-20
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