Siddhartha Bank Limited, Taulihawa Branch, Kapilvastu, has issued a 15-day notice inviting sealed bids for the auction of movable and immovable properties pledged as collateral against loans.
The bank said the properties are being auctioned to recover outstanding principal, installments, interest and other dues from borrowers and guarantors who failed to settle their loan obligations despite repeated verbal and written reminders.
According to the notice published on October 5, 2026, the auction process relates to properties pledged by borrowers and collateral guarantors. The properties will be sold through a confidential sealed-bid process on an “as is, where is” basis, subject to applicable laws, Nepal Rastra Bank directives and the bank's rules.
The bank had previously published an auction notice on December 10, 2023, in the Nagarik national daily. However, no bids were received, or the bids received were not acceptable and were subsequently rejected. The latest notice has therefore been issued as the second auction notice.
Interested individuals may submit sealed bids within the specified 15-day period, subject to the terms and conditions outlined in the bid documents.
The bank has also informed the concerned borrowers and guarantors that the auction can be stopped if they settle all outstanding dues and clear their loans before the auction date.
If the mortgaged properties fail to attract an acceptable bid, Siddhartha Bank may acquire the properties itself in accordance with the Bank and Financial Institution Act, 2073.
Published by Siddhartha Bank on 2083-6-19
