Kamana Sewa Bikas Bank Ltd. has issued a 15-day public notice to auction mortgaged properties, including houses, land, and vehicles, held as collateral against loans that remain unpaid.
According to the notice published on Kartik 10, 2083 (October 27, 2026), the bank initiated the auction process after borrowers failed to repay their outstanding loans despite repeated verbal and written reminders, as well as a previous 35-day public notice demanding repayment.
The bank plans to recover its outstanding dues, including principal, interest, penalty interest, and other applicable charges, by selling the mortgaged assets through a sealed-bid auction.
How to Participate in the Auction
Interested individuals, firms, companies, and other registered organizations can submit sealed bids within 15 days from the publication date. The completed bids must reach the bank's Central Office in Gyaneshwor, Kathmandu, within the specified deadline.
If the final day falls on a public holiday, bids may be submitted on the next working day when the office reopens. Applicants must comply with the terms and conditions stated in the public notice and the bid form.
Further Recovery and Blacklisting Measures
The bank has stated that if the mortgaged properties or vehicles cannot be sold, or if the auction proceeds are insufficient to recover the full outstanding amount, it may pursue recovery from other movable and immovable assets of the borrowers and guarantors in accordance with applicable laws and its loan recovery policy.
The bank has also warned that borrowers, collateral providers, and personal guarantors may be recommended for inclusion on the Credit Information Center's blacklist.
Interested bidders can contact Kamana Sewa Bikas Bank's Central Office in Gyaneshwor, Kathmandu, for further information about the auction and its terms.
Published by Kamana Sewa Bikas Bank on 2083-7-10
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