Kumari Bank Limited has invited sealed bids for the re-auction of properties mortgaged as security against loans that remain unpaid by the concerned borrowers.
The bank published a seven-day notice in the Arthik Abhiyan daily on Ashoj 15, 2083, stating that the borrowers had failed to clear outstanding principal, interest, penal interest and other applicable charges despite repeated written and verbal notices.
According to the notice, the borrowers were previously given a 35-day public notice to settle their outstanding loan obligations. However, the dues remained unpaid, prompting the bank to proceed with the re-auction of the mortgaged properties.
The properties, along with their associated rights and appurtenances, will be offered for sale on an “as is, where is” basis. The bank said earlier auction notices had been issued and the properties could not be sold, leading to the publication of the re-auction notice.
Interested individuals, firms, companies and other eligible parties can submit confidential sealed bids in accordance with the terms and conditions specified by the bank.
The auction is scheduled to be conducted through sealed bids on Ashoj 22, 2083 (Thursday) at the concerned branch or the Credit Recovery Department, Bagbazar, Kathmandu.
The proceeds from the auction will be used to recover the bank's outstanding dues from the concerned borrowers.
Potential bidders are required to review and comply with all conditions mentioned in the auction notice before submitting their bids.
Published by Kumari Bank Ltd (KBL) on 2083-6-15
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