Kathmandu. KATHMANDU: Rastriya Banijya Bank Limited (RBB) has decided to auction the collateral assets of its borrowers who have not repaid their loans. Issuing a public notice, the bank has urged the borrowers and guarantors to repay the loan within the stipulated time.
According to the bank, if the loan is not repaid, the collateral property associated with the loan will be auctioned as per the prevailing banking and legal process. The notice also calls for tenders for the sale of the collateral property.
The collateral includes land and properties owned by NGM Engineering and Sales Pvt. Ltd. in Kathmandu and other places. The bank has also set a minimum price for the auction of the property.
The bank has urged interested individuals and organizations to submit the required documents and tender within the stipulated period from the date of publication of the notice. The bidders fulfilling the specified conditions will start the auction process as per the rules of the bank.
The bank has also urged the borrowers and guarantors to stop the auction of the collateral property by repaying the loan within the stipulated time. NGM Engineering and Sales Pvt. Ltd. is owned by industrialist Roop Jyoti.
Earlier, Prabhu Bank had issued a notice stating that it was going to auction the assets of two big companies held by former assistant finance minister Roop Jyoti. See also:
