Everest Bank Limited, Lazimpat Branch, has reissued a 15-day sealed-bid auction notice for the sale of immovable properties pledged as collateral by a borrower who has failed to repay outstanding loans.
According to the second auction notice published on Kartik 19, 2083, the bank has initiated the auction process to recover outstanding principal, interest, penalties, and other applicable charges.
The bank stated that the concerned borrower failed to settle the loan obligations despite repeated written and verbal reminders, as well as the publication of multiple 35-day public notices in national daily newspapers demanding loan repayment.
The bank had also previously published a 15-day auction notice. However, the auction process could not be completed, as the borrower showed no interest in clearing the outstanding dues.
Consequently, Everest Bank has reissued the 15-day sealed-bid auction notice for the immovable properties mortgaged as security against the loan facilities. The properties will be auctioned in their existing condition in accordance with the Bank and Financial Institutions Act, 2073, other prevailing laws, and the bank's regulations.
Interested individuals can submit confidential sealed bids for the properties, subject to the terms and conditions specified in the official auction notice.
The bank has published the second auction notice to inform the concerned borrower, collateral providers, personal guarantors, and the general public about the auction process.
Published by Everest Bank Ltd. on 2083-7-19
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