Kathmandu: NIC ASIA Bank Limited has issued a 35-day public notice asking the borrowers listed in the notice to clear their outstanding loans, including principal, interest and other applicable charges.
According to the bank, the concerned borrowers had failed to make payments as required under the terms and conditions of their respective loan agreements. Despite repeated oral and written reminders, the borrowers have not settled their outstanding liabilities.
The bank has urged the concerned borrowers to contact the bank and fully repay their outstanding principal, interest and other dues within 35 days from the date of publication of the notice.
The bank has warned that failure to repay the loans within the stipulated period will result in further action under the prevailing laws and the agreements signed with the bank. This may include the auction or disposal of movable and immovable assets pledged as collateral to recover the bank's outstanding dues.
NIC ASIA Bank has also stated that, in accordance with the directives of Nepal Rastra Bank, it will recommend that the names of the concerned borrowers and other related parties be placed on the Credit Information Center Limited's blacklist.
The bank further clarified that if the outstanding amount cannot be fully recovered from the pledged collateral, guarantors will also be given the required opportunity to settle the loan in accordance with regulatory provisions. If the guarantors fail to repay the outstanding amount within the given period, the bank may recommend their inclusion on the blacklist as well.
For any remaining outstanding amount, the bank may proceed against the other movable and immovable assets and property of the borrowers and guarantors in accordance with the Bank and Financial Institution Act, 2073 (2016), the Banking Offenses and Recovery Act, 2058 (2002), its regulations, and other prevailing laws.
The bank has therefore urged all concerned borrowers and guarantors to settle their outstanding loan obligations within the 35-day deadline to avoid further recovery and legal proceedings.
Published by NIC Asia Bank on 2083-5-10
