Lumbini Bikas Bank Limited has issued a 21-day urgent public notice calling on the concerned borrowers to settle their outstanding loans and warning that the collateral pledged against the loans will be auctioned if the dues remain unpaid.
The notice, published in the Annapurna Post national daily on September 25, 2026, states that the borrowers have failed to pay principal, interest, penalty interest and other applicable charges despite repeated verbal reminders and previous notices published in national newspapers.
The bank said it will proceed with the auction of the properties mortgaged as collateral, in their existing condition, by exercising the authority provided under the Bank and Financial Institutions Act, 2073 and in accordance with the bank's auction procedures.
Interested individuals and institutions have been invited to obtain the prescribed bid forms from the bank, complete them properly and submit sealed bids within 21 days from the date of publication of the notice.
The submitted bids will be opened on the 22nd day at the date, time and location specified in the notice. If the final bid submission or opening date falls on a bank holiday, the process will be carried out on the next working day.
The bank said the bid opening and collateral auction process may proceed even if the concerned borrowers, guarantors, property owners or their authorized representatives are absent.
Lumbini Bikas Bank further stated that borrowers, proprietors, directors and concerned guarantors may be placed on the Credit Information Center's blacklist as part of the loan recovery process. If the auction of all secured collateral fails to recover the bank's entire outstanding amount, the remaining dues will be recovered through further legal action in accordance with prevailing laws.
The bank has urged the concerned borrowers and stakeholders to contact the bank within the notice period and settle their loans as soon as possible to protect their pledged properties from the auction process.
Published by Lumbini Bikas Bank on 2083-6-9
View More by Lumbini Bikas Bank
