Kumari Bank Limited has announced a seven-day sealed-bid auction notice for the resale of properties mortgaged with the bank by borrowers who have failed to repay their outstanding loans. According to the notice published on Ashoj 20, 2083, the concerned borrowers repeatedly failed to settle the principal, interest, penal interest and other applicable charges despite receiving written and verbal notices from the bank. The bank had also previously issued a 35-day public notice demanding repayment, but the outstanding liabilities remained unpaid.
As previous auction attempts failed to sell the mortgaged properties, Kumari Bank has initiated a re-auction process through confidential sealed bids. The properties, along with their associated rights and assets, will be sold in their existing condition to recover the bank’s outstanding dues. Interested individuals and entities willing to purchase the mortgaged movable and immovable properties can submit sealed bids in accordance with the terms and conditions specified by the bank.
The auction is scheduled to take place on Ashoj 27, 2083 (Tuesday), which is the eighth day from the publication of the notice. The sealed-bid auction will be conducted through the concerned branch or the Loan Recovery Department at Bagbazar, Kathmandu. Interested bidders are required to follow the bank’s prescribed procedures and conditions while submitting their bids.
Published by Kumari Bank Ltd (KBL) on 2083-6-20
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