Kathmandu: Nabil Bank Limited has issued a seven-day public notice inviting sealed bids for the auction of mortgaged land and buildings pledged as collateral against loans obtained through its Narayangarh Branch in Chitwan.
The auction follows the failure of the concerned borrowers, proprietors and personal guarantors to settle their outstanding principal and interest liabilities despite earlier legal notices and formal requests from the bank.
Recovery Process Follows Earlier Loan Default Notice
According to the notice, Nabil Bank had previously issued a 35-day public notice on Jestha 24, 2082, calling on the borrowers and guarantors to clear their outstanding loan obligations.
As the liabilities remained unpaid within the stipulated period, the bank has proceeded with the auction of the pledged assets in accordance with prevailing banking and legal provisions.
The latest auction notice was issued on Bhadra 30, 2083, covering collateral pledged against financial facilities extended to Shubha Laxmi Rice Mill and Shivnagar Construction and Real Estate Pvt. Ltd.
Borrowers and Guarantors Named in Notice
The notice identifies Shubha Laxmi Rice Mill as a private firm registered in Chitwan, with Dhiren Duwadi listed as its proprietor. Kiran Duwadi and Madhu Maya Duwadi are identified as personal guarantors.
Similarly, Shivnagar Construction and Real Estate Pvt. Ltd., registered with the Office of the Company Registrar, is also among the borrowers whose collateral has been put up for auction. The notice identifies Dhiren Duwadi and Milan Duwadi among the company’s directors and personal guarantors.
Land and Buildings in Bharatpur Among Auction Assets
The properties offered for auction include land parcels and built structures located in the former Shivnagar VDC area of Chitwan, which now falls under Bharatpur Metropolitan City Ward No. 14.
The bank has invited interested bidders to participate through the sealed-bid process within the deadline specified in the public notice.
The auction represents the latest step in Nabil Bank’s loan recovery process after the borrowers failed to clear their outstanding financial obligations despite prior notices.
