Shangri-la Bank Auction Notice for 15-Day Property Bidding

30th March 2026, Kathmandu

Shangri-la Development Bank Limited has issued a 15-day urgent public notice regarding loan recovery and the auction of collateral properties due to consistent non-payment by listed debtors.

Shangri-la Bank Auction Notice

This notice, officially published in the News 24 National Daily on 2082/12/16, emphasizes the critical importance of timely loan repayment, including the principal amount, accrued interest, penalties, and other administrative charges as stipulated in the bank’s original loan agreements.

In the current financial climate of 2026, the Shangri-la Bank Auction Notice serves as a final legal instrument for the bank to recover public deposits that have been stuck in non-performing assets. Despite repeated verbal and written reminders sent to the borrowers and their respective guarantors, the dues remain unsettled, forcing the institution to exercise its rights under the Bank and Financial Institution Act (BAFIA) and other applicable recovery laws of Nepal.

Key Debtors and Collateral Properties

The latest Shangri-la Bank Auction Notice highlights several significant defaults involving both institutional and individual borrowers. The properties slated for the confidential bidding process include:

Intel Construction and Builders Pvt. Ltd.: A company registered at the Tripureshwor Office with a primary address in Myagde-7, Tanahun. The collateral involves prime real estate registered under Deepak Thapa in Deurali, Kaski (plots 428, 499, and 657), featuring completed houses and all associated land rights.

Kashi Maya Tamang: Originally from Raines-6, Lamjung, and currently residing in Pokhara-3, Kaski. The auctioned asset is a property located in Armala-2, Kaski (plot 847), which includes a residential building.

Kale Miya: A resident of Sarumarani-1, Pyuthan. The bank is auctioning a significant land plot (plot 16) in Bangesal-4, Pyuthan, measuring approximately 1889.89 square meters, including the constructed house on the site.

Guarantors associated with these loans, including Poonam Kunwar Thapa, Keshua Thapa, and others, are also held legally liable for the total outstanding debt if the auction proceeds do not cover the full amount.

Bidding and Auction Procedure

The Shangri-la Bank Auction Notice outlines a strictly confidential sealed bid process to ensure fairness and transparency. Prospective bidders must adhere to the following procedural steps:

Bid Form Collection: Interested parties can obtain official bid forms from any branch of Shangri-la Development Bank. A non-refundable fee of 500 NPR must be deposited into the bank’s “Other Non-Operating Income” account (No. 9307401050101).

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Deposit Requirement: Every bid must be accompanied by a deposit equal to at least 10% of the total bid amount. This should be deposited into the “Auction Deposit (Lilami)” account (No. 9206501070501) via cash or a Manager’s Cheque.

Property Inspection: Bidders are encouraged to inspect the collateral properties during office hours before the 15-day deadline. All properties are sold on an “as-is, where-is” basis, meaning the bank will not be responsible for any physical defects discovered after the sale.

Bid Opening: The formal opening of the confidential bids is scheduled for the day following the final submission date at 11:00 AM at the respective branch offices.

Important Terms and Legal Implications

The Shangri-la Bank Auction Notice carries heavy legal weight for both the debtor and the successful bidder. It is important to note the following conditions:

Non-Refundable Forfeiture: If a successful bidder fails to pay the remaining 90% of the bid amount within the bank’s specified timeline, the 10% initial deposit will be forfeited.

Debtor’s Last Chance: If the original debtor clears the entire loan amount, including all penalties and auction expenses, before the legal transfer of the property, the bank may cancel the bids and refund deposits without interest.

Blacklisting: Non-payment will result in the debtors and guarantors being added to the Credit Information Bureau (CIB) blacklist, effectively ending their ability to access banking services in Nepal.

Transfer Costs: All costs related to the registration and legal transfer of the property at the Land Revenue Office (Malpot) must be borne entirely by the buyer.

Conclusion

The Shangri-la Bank Auction Notice is a decisive step toward maintaining financial discipline and protecting the interests of the bank’s depositors. For investors, this auction provides a rare opportunity to acquire residential and commercial properties in Kaski, Tanahun, and Pyuthan through a regulated and transparent process. For defaulting borrowers, it remains a final call to settle their obligations and prevent the permanent loss of their valuable assets.

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