Laxmi Sunrise Bank Limited has published a seven-day public notice announcing the re-auction of assets pledged as collateral against loans that remain unpaid despite repeated reminders and previous public notices.
According to the notice published on October 9, 2026 (Ashoj 23, 2083), the bank has initiated the auction process after the concerned borrowers failed to settle their outstanding loan obligations, including principal, interest, penal interest and other applicable charges. The bank stated that repeated written and verbal reminders, along with 35-day loan repayment notices and 15-day and seven-day collateral auction notices published in various national daily newspapers, have not resulted in the repayment of the dues.
The bank will sell the listed movable and immovable properties, vehicles and equipment pledged as loan security through a sealed-bid auction process, exercising its authority under the Banks and Financial Institutions Act, 2017. Interested bidders are required to submit their sealed bids to the Loan Recovery Department at the bank's head office in Hattisar, Kathmandu, within seven days of the notice's publication. Bidders must clearly specify the assets they wish to purchase and the prices they are willing to offer.
Published by Laxmi Sunrise Bank on 2083-6-23
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