Nabil Bank Limited hereby publishes this 15-day public notice inviting sealed bids for the auction sale of movable and immovable properties pledged as collateral by the borrowers and guarantors listed in the details below.
The concerned borrowers and collateral guarantors obtained loans from the Bank and agreed to repay the principal installments, interest, and other outstanding dues in accordance with the loan documents and loan sanction letters. Despite repeated verbal and written reminders, they have failed to repay their outstanding liabilities and have breached the terms and conditions of their loan agreements.
A 35-day public notice demanding repayment and settlement of the outstanding loans was previously published in the Abhiyan Daily newspaper on 2081/08/14 B.S. However, the borrowers and guarantors have neither settled their outstanding principal and interest nor discharged their loan and guarantee obligations.
Accordingly, in order to recover the outstanding dues payable to the Bank, the movable and immovable properties pledged as collateral, as detailed below, will be auctioned through a sealed-bid process, in their existing condition and quantity, in accordance with applicable laws, including the Banks and Financial Institutions Act, 2073 B.S., and the Bank’s rules and regulations.
Interested individuals, firms, companies, and other organized institutions wishing to purchase the collateral properties through sealed bids are invited to submit duly completed bid applications, subject to the terms and conditions specified in the bidding form. The sealed bids must reach Nabil Bank Limited, Simara Branch, Bara, within 15 days from the date of publication of this notice, during office hours. If the final day falls on a public holiday, the deadline shall be the next working day on which the office reopens.
The concerned borrowers, guarantors, and other relevant parties are also informed that the auction process may be stopped if they appear at the Bank and fully settle all outstanding dues before the scheduled auction date.
If the collateral properties listed below cannot be sold through the auction process, or if no bidder agrees to purchase them, the Bank may acquire the properties itself in accordance with the Banks and Financial Institutions Act, 2073 B.S.
Furthermore, if the proceeds from the auction sale are insufficient to recover the Bank’s total outstanding claims, the remaining amount shall be recovered from the other movable and immovable assets and properties of the borrowers and guarantors, in accordance with the Banks and Financial Institutions Act, 2073 B.S., the Debt Recovery Act, 2058 B.S., the relevant regulations of 2059 B.S., and other applicable laws.
This notice is hereby issued for the information of all concerned borrowers, collateral guarantors, and other relevant parties.
Published by Nabil Bank on 2083-7-12
