Nabil Bank to auction 52 properties across 21 districts (with list)
Nabil Bank formally issued a notice, disclosing its decision to auction 52 houses across 21 districts.
KATHMANDU: Nabil Bank is going to sell its properties in different parts of the country.
Nabil Bank formally issued a notice, disclosing its decision to auction 52 houses/land across 21 districts.
These properties, originally mortgaged to the bank, are now slated for auction due to non-repayment of loans.
The bank emphasized that the auction process would be conducted through secret sealed bidding, regardless of the current condition of the properties.
The list of locations earmarked for property sale includes several areas in the Kathmandu Valley, such as Rajbiraj, Itahari, Bhojpur, Khalanga, Dharan, Dolakha, Morang, Jhapa, Banke, and others.
Interested parties, including individuals, firms, companies, and associations keen on acquiring these properties, are required to submit secret bids by the 23rd of Poush (Jan 8).
The decision to auction mortgaged properties comes into play when borrowers default on loan payments. If the auction process does not yield a successful sale, the bank retains the authority to handle the transaction independently. It’s worth noting that banks are allowed to keep a maximum of 150 ropani land under their name during mortgage agreements. Once this limit is surpassed, banks have the discretion to sell such assets.
