Global IME Bank Limited has issued a seven-day public notice inviting sealed bids for the auction of movable and immovable assets pledged as collateral against loans that remain unpaid.
According to the notice published in Karobar National Daily on Kartik 10, 2083 (October 27, 2026), the bank initiated the auction process after borrowers failed to repay outstanding principal, interest, penalty interest, and other charges despite repeated verbal and written reminders. The bank had also previously issued 35-day and 15-day public notices demanding loan repayment and warning of collateral auction.
The bank plans to sell the mortgaged assets through a confidential sealed-bid process, exercising its authority under the Bank and Financial Institution Act, 2073, and other applicable laws.
Sealed Bidding Process
Interested individuals and entities can submit sealed bids for the listed properties in accordance with the terms and conditions specified in the auction notice. The notice provides a seven-day period for the bidding process.
The specific details of the properties, bid submission address, and other bidding requirements are set out in the complete official notice.
Further Loan Recovery Measures
Global IME Bank has stated that if the assets cannot be sold or the proceeds are insufficient to recover the full outstanding loan amount, it may initiate further recovery proceedings against the borrowers' and guarantors' other assets, in accordance with applicable laws.
The bank has also warned that the borrowers and parties associated with the loans may be recommended for blacklisting in accordance with prevailing laws and Nepal Rastra Bank directives.
Opportunity to Settle Outstanding Loans
The bank has clarified that the auction process may be suspended if the borrowers, collateral providers, or institutional or personal guarantors settle the entire outstanding amount before the auction sale takes place.
Interested bidders are advised to review the complete official notice for the list of assets, submission deadline, and detailed bidding conditions.
Published by Global IME Bank on 2083-7-10
