Siddhartha Bank Limited‘s Manigram Branch in Rupandehi has invited sealed bids for the auction and sale of mortgaged collateral properties following the borrower’s failure to settle outstanding loan liabilities.
The bank has issued a seven-day public notice after the borrower and personal guarantors failed to clear their dues despite an earlier 35-day notice and subsequent public notices.
Borrower and Personal Guarantors
The borrower associated with the loan is Ram Narayan Tharu, grandson of Jag Bahadur Tharu and son of Surendra Prasad Tharu, a resident of Omsatiya Rural Municipality, Rupandehi.
The associated business is M/s Hati Furniture Industries, located in Ward No. 9 of Rupandehi.
The personal guarantors for the loan are Surendra Prasad Tharu, father of the borrower, and Basanti Kumari Tharu, mother of the borrower.
Details of the Collateral Property
The collateral property offered for auction is located in the former Hati Furniture VDC Ward No. 9, currently falling under Omsatiya Rural Municipality Ward No. 3, Rupandehi District.
The property includes Plot No. 129, with a total area of 0–5–15, equivalent to 5 Kattha and 15 Dhur.
The land is registered in the name of the borrower. The land and fixed assets located on the property are being offered for sale through the sealed-bid process.
Bid Forms Available for NPR 1,000
Interested bidders can obtain the sealed tender bid form from the bank by paying a non-refundable fee of NPR 1,000.
Completed sealed bids must be submitted to Siddhartha Bank’s Manigram Branch, Rupandehi, within seven days from the date of publication of the notice.
The submission deadline is 3:00 PM on the final day.
10% Earnest Money Required
Bidders must deposit an earnest money amount equivalent to 10% of their quoted bid value into Siddhartha Bank’s Account No. 001090000.
Alternatively, bidders may submit an equivalent bank draft along with their sealed bid.
The required security deposit must be provided in accordance with the bank’s bidding conditions for the bid to be considered.
Bids to Be Opened at 4 PM
The sealed bids received within the specified deadline will be opened on the same day at 4:00 PM at Siddhartha Bank’s Manigram Branch office.
The opening process will take place in the presence of bidders or their duly authorized representatives.
The seven-day auction notice has been issued as part of Siddhartha Bank’s loan recovery process after previous attempts to recover the outstanding liabilities were unsuccessful.
Interested bidders must comply with the specified application fee, earnest money requirement, submission deadline, and other conditions prescribed by the bank to participate in the auction process.
