Kumari Bank Limited has invited sealed bids for the re-auction of movable and immovable properties pledged as collateral by borrowers who have failed to repay their outstanding loans.
According to a public notice published on Ashoj 22, 2083, the bank said the concerned borrowers had repeatedly been notified, both verbally and in writing, to settle their outstanding principal, interest, penal interest and other applicable charges. However, they failed to clear the dues despite repeated follow-ups and a 35-day public notice issued earlier.
The bank said the borrowers had breached the terms and conditions of their loan agreements by failing to meet their repayment obligations. As a result, the properties mortgaged as security for the loans, along with their associated rights and accessories, were put up for auction several times.
However, the earlier auction attempts failed to sell the listed properties. The bank has therefore issued a fresh notice to re-auction the collateral assets through a confidential sealed-bid process.
Interested individuals and entities willing to purchase the movable and immovable assets can submit sealed bids subject to the terms and conditions specified by the bank.
The re-auction is scheduled for Thursday, Ashoj 29, 2083, the eighth day from the publication of the notice. The auction will be conducted through sealed bids at the concerned branch office or the Loan Recovery Department of Kumari Bank at Bagbazar, Kathmandu.
The bank said the auction is being conducted to recover its outstanding dues from the concerned borrowers. The properties will be sold in their existing condition, along with their associated rights and components, as specified in the auction notice.
Kumari Bank has invited members of the public interested in acquiring the collateral properties to participate in the sealed-bid auction in accordance with the conditions set by the bank.
Published by Kumari Bank Ltd (KBL) on 2083-6-22
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