SADBLBank Issues 15-Day Notice to Auction Collateral of Loan Defaulters

Shangrila Development Bank has invited sealed bids for the auction of movable and immovable properties pledged as collateral by borrowers who have failed to repay their outstanding loans.

The 15-day public notice was published in the Karobar Rashtriya Dainik on October 13, 2026 (Ashoj 27, 2083). The deadline for submitting sealed bids is November 26, 2026 (Kartik 10, 2083), within office hours.

According to the notice, the concerned borrowers have failed to repay principal, interest, penalty interest and other applicable charges despite repeated verbal and written reminders from the bank. The bank stated that the borrowers had also failed to settle their liabilities despite previous public notices published in newspapers.

The bank has urged the borrowers, collateral owners and guarantors to settle their outstanding dues. At the same time, it has initiated the process of auctioning the pledged assets through sealed bids in accordance with the Bank and Financial Institution Act and other prevailing laws.

Interested bidders are required to submit their sealed bids within the stipulated deadline and comply with the conditions specified by the bank. The bids will be opened at 11:00 a.m. on the day following the submission deadline or, if that day is a public holiday, on the next working day at the concerned branch office. Bidders or their authorized representatives may attend the opening, although their absence will not prevent the process from proceeding.

The bank has warned that if the outstanding loans remain unpaid within the specified period, the borrowers’ names may be included on the Credit Information Centre’s blacklist in accordance with Nepal Rastra Bank directives, without further notice.

The notice further states that if the properties cannot be sold through the sealed-bid process, the bank may adopt alternative arrangements to dispose of them or take possession of the assets itself, as permitted by law. If the proceeds from the collateral are insufficient to recover the full outstanding amount, the bank may pursue recovery from the borrowers’ other movable and immovable assets under applicable laws.