Laxmi Sunrise Bank Limited Issues 35-Day Notice to Defaulters to Clear Overdue Loans

10th July 2026, Kathmandu

Laxmi Sunrise Bank Limited has officially published a 35-day public notice targeted directly at defaulting borrowers and their legal guarantors.

Laxmi Sunrise Issues 35-Day Notice

The national level commercial financial institution is demanding the immediate clearance of all long-overdue loan accounts that have fallen into deep non-performing status.

The widespread regulatory publication comes after several retail consumers and corporate business units failed to balance their credit books. The bank management issued this final call to protect its overall asset quality and clean up its balance sheets before initiating severe collateral liquidation steps.

Strategic Identification of Chronic Default Cases

According to the official circular issued by the recovery department, the public document lists the specific names of individual clients and business entities. These targets had previously obtained credit facilities under formal loan agreements but continuously ignored their monthly installment repayment obligations.

The recovery unit explained that the harsh publication path was selected as a last option. The credit management desk had already issued a long series of verbal warnings, written letters, and formal branch reminder calls over the past fiscal quarters without receiving positive responses.

The comprehensive notice requires the targeted individuals and business firms to settle their financial dues completely within 35 days from the primary publication date. To achieve full regular account restoration, the borrowers must clear several specific financial components:

• Original principal: The foundational loan amount borrowed from the bank must be completely repaid to match the initial amortization table.
• Accrued interest: Every bit of standard interest generated over the non-paying months must be updated and cleared.
• Accumulated penalties: All additional penalty charges triggered by missing the agreed payment timelines must be settled.
• Administrative fees: Any extra legal fees or operational tracking costs spent by the bank during the recovery process must be covered.

Immediate Activation of Legal Actions and Asset Liquidation Plans

The financial institution has explicitly clarified the legal steps it will take if the outstanding amounts are not resolved within the given 35-day timeframe. The bank intends to initiate formal recovery proceedings by coordinating directly with national judicial bodies and utilizing central bank enforcement channels.

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The regulatory response pathway aligns tightly with the provisions of prevailing banking laws and the Unified Directives issued by Nepal Rastra Bank. The recovery team will implement a series of strict asset seizing measures without issuing any further public warnings or personal notifications:

The first step involves blacklisting the default partners by forwarding their detailed documentation to the Credit Information Bureau of Nepal. This status completely blocks the individuals and their group partners from accessing future credit or opening new bank accounts anywhere in the country.

The second step centers on enforcing the direct sale or public auction of all pledged collateral and mortgaged assets. The bank will take physical possession of lands, buildings, factories, or vehicles kept as security to recover its cash through competitive public bidding.

The public notice includes full descriptions of the mortgaged properties, land registry plot numbers, and the corresponding guarantor identity numbers. This high transparency level alerts general public buyers about the troubled state of the assets, preventing third-party property scams.

Specialized Advisory Points and Support Contact Infrastructure

Laxmi Sunrise Bank Limited has urged all concerned borrowers and their legal guarantors to visit their respective handling branch offices immediately to organize their repayments. Taking prompt action helps clients avoid permanent damage to their personal credit histories and protects their family properties from forced public auctions.

Asset owners can coordinate directly with regional branch managers to discuss potential debt settlement options or explore structured exit payments before the expiration of the legal deadline. The commercial bank runs an extensive national network containing hundreds of modern branches and electronic service points across all seven provinces of Nepal, maintaining strong credit solutions for its nationwide consumer base.

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