Laxmi Sunrise Bank Limited has announced a seven-day public notice for the re-auction of movable and immovable assets pledged as collateral by borrowers who have failed to repay their outstanding loans.
According to the bank, repeated written and verbal reminders were issued to the concerned borrowers to clear outstanding principal, interest, penal interest and other charges. The bank had also previously published notices regarding loan repayment and auction of the collateral assets, but the borrowers failed to settle their dues.
The bank said the collateral assets, including property, vehicles and equipment, will be auctioned through sealed bids on an “as is, where is” basis, exercising its authority under the Bank and Financial Institution Act, 2073.
Interested bidders must submit sealed bids within seven days from the publication of the notice at the bank's Loan Recovery Department at its Head Office in Hattisar, Kathmandu, or at the concerned branch office.
The received bids will be opened at 11:00 AM on Ashoj 29, 2083, at the bank's Head Office or concerned branch office. If the scheduled date falls on a public holiday, the bids will be opened on the next banking day.
The bank has also stated that if the listed assets cannot be sold through the auction, it may acquire the assets itself in accordance with prevailing laws.
If the outstanding dues are not fully recovered from the auctioned assets, the bank may proceed to recover the remaining amount from other assets of the borrowers and guarantors, as permitted by prevailing laws.
Published by Laxmi Sunrise Bank on 2083-6-22
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