Kathmandu: NIC Asia Bank has announced the auction of movable and immovable properties pledged as collateral by 106 individuals and organizations that have defaulted on loan repayments.
In a public notice issued on Wednesday, the bank invited sealed bids for the sale of the pledged assets. According to the bank, the borrowers failed to settle their loans as per the agreement despite repeated written and verbal reminders, prompting the bank to initiate the sale of the collateral under the provisions of the law to recover the outstanding amounts.
Interested individuals or organizations wishing to purchase the properties can submit their applications along with the bid form to the bank’s central office, Credit Recovery Department, Tripureshwor, Kathmandu, within seven days of the notice’s publication.
The notice also includes the names of the defaulters along with detailed descriptions of the pledged assets, revealing a total of 106 borrowers whose properties will be auctioned.
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