Nabil Bank Issues Seven Day Auction Notice for Mortgaged Properties in Chitwan

15th September 2026, Kathmandu

Nabil Bank Limited has published a official seven day public notice inviting sealed bids for the auction sale of mortgaged land and buildings pledged as loan collateral.

Nabil Bank Issues Auction Notice

The properties being auctioned were mortgaged to secure credit facilities extended through the bank Narayangarh Branch in Chitwan.

The bank initiated the recovery proceedings after the concerned borrowing firms, proprietors, and personal guarantors failed to clear outstanding principal and interest obligations despite previous legal notices and formal requests.

Background of Recovery Action and Default Notice

Nabil Bank Limited initially published a 35 day public notice on Jestha 24, 2082, requesting the borrowers and guarantors to clear their total loan liabilities. Because the parties failed to settle the outstanding dues within the mandatory timeframe, the bank has exercised its legal rights under prevailing banking regulations to auction the pledged assets.

The latest auction notice was officially issued on Bhadra 30, 2083. The auction involves collateral pledged for financial facilities provided to Shubha Laxmi Rice Mill and Shivnagar Construction and Real Estate Pvt. Ltd.

Borrowers and Guarantors Identified in the Notice

The public notice details the borrowing entities and associated individuals responsible for the unrecovered liabilities:

Shubha Laxmi Rice Mill: A private firm registered on Bhadra 16, 2066 (Registration No. 59/2066/67) under the former Department of Cottage and Small Industries in Bharatpur, Chitwan. The registered proprietor is Dhiren Duwadi, currently residing in Bharatpur Metropolitan City Ward No. 14. The personal guarantors associated with the firm are Kiran Duwadi and Madhu Maya Duwadi.

Shivnagar Construction and Real Estate Pvt. Ltd.: A corporate entity registered at the Office of the Company Registrar on Ashwin 12, 2076 (Registration No. 226055/076/077), located in Bharatpur Metropolitan City Ward No. 15, Bhagwanpur, Chitwan. The key individuals identified as directors and personal guarantors include Dhiren Duwadi and Milan Duwadi.

Details of Collateral Properties Offered for Auction

The real estate assets being offered for sale consist of land parcels and built structures located in former Shivnagar VDC, Chitwan, which now falls under Bharatpur Metropolitan City Ward No. 14.

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Property 1 Details

Owner: Madhu Maya Duwadi
Location: Former Shivnagar VDC Ward No. 1, Chitwan (Now Bharatpur Metropolitan City Ward No. 14)
Plot Number: 66
Total Area: 1 bigha, 9 kattha, 8.75 dhur (1-9-8.75 bigha)
Asset Status: House, land, and appurtenances mortgaged and restricted in favor of Nabil Bank Limited

Property 2 Details

Owner: Dhiren Duwadi
Location: Former Shivnagar VDC Ward No. 1, Chitwan (Now Bharatpur Metropolitan City Ward No. 14)
Plot Number: 270
Total Area: 0 bigha, 5 kattha, 0 dhur (0-5-0 bigha)
Asset Status: House, land, and related rights mortgaged and restricted in favor of Nabil Bank Limited

Sealed Bid Application Process and Submission Deadlines

Interested individuals, registered firms, companies, and corporate organizations can purchase the sealed bid application form containing the detailed terms and conditions for a non refundable fee of NPR 1,000.

• Application forms can be collected from:
  Nabil Bank Central Office, Credit Recovery Department, Bijulibazar, Kathmandu
  Nabil Bank Narayangarh Branch, Chitwan
• Submission Requirements:
  Completed sealed bids must be delivered to either of the above locations by 5:00 PM on Ashoj 5, 2083 (seven days from the publication date). If the final submission date falls on a bank holiday, bids will be accepted until 5:00 PM on the next reopening day.

Bid Opening Schedule and Deposit Terms

All submitted sealed bids will be opened at 3:00 PM on Ashoj 6, 2083, at the Nabil Bank Narayangarh Branch in Chitwan. The opening will occur in the presence of bank representatives and authorized government agency representatives. The absence of a bidder or authorized representative will not halt the bid opening process. In the event of an unannounced bank holiday on Ashoj 6, the opening will take place at 4:00 PM on the next business day.

Mandatory Deposit Conditions:

• Bidders must state their intended purchase price in both figures and words.
• Bidders must include an earnest money deposit equal to at least 10 percent of their total quoted bid amount.
• Acceptable deposit instruments include cash vouchers, Good for Payment cheques, drafts, Manager cheques, Banker cheques, or bank guarantees.
• Deposits carry zero interest.

The winning bidder will receive written confirmation from Nabil Bank and must deposit the full remaining balance within the specified timeframe. Failure to complete the payment will result in the immediate forfeiture of the 10 percent deposit.

Auction Terms and Bank Authority

The properties are auctioned strictly on an As Is, Where Is basis. Bidders are required to evaluate the physical condition and statutory boundaries of the properties prior to bidding.

Key terms governing the sale process include:

• Buyer Responsibilities: The successful purchaser is responsible for paying all applicable government transfer fees, taxes, and legal charges associated with ownership transfer.
• Right of Redemption: Borrowers, guarantors, or related parties retain the right to stop the auction process by settling the entire outstanding principal, interest, and operational fees before the scheduled auction date.
• Non Banking Asset Acquisition: If the auction fails to yield valid bids or acceptable offers, Nabil Bank reserves the right to acquire the properties directly as Non Banking Assets (NBA) in accordance with the Bank and Financial Institution Act (BAFIA), 2073.
• Deficiency Recovery: If the proceeds generated from the collateral auction are insufficient to liquidate the full outstanding debt, Nabil Bank will pursue the remaining dues by attaching other personal movable and immovable assets of the borrowers and guarantors, as permitted under BAFIA 2073 and the Debt Recovery Act 2058.
• Swiss Challenge Mechanism: Nabil Bank reserves ultimate authority to accept or reject any bid. The bank also retains the discretion to keep valid bids on file and re-issue notices under the Swiss Challenge Auction Model pursuant to its approved procedures.

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