Himalayan Bank Auctions Mortgaged Assets Under Seven Day Sealed Bid Process
28th September 2026, Kathmandu
Himalayan Bank Limited has published a seven-day public notice inviting sealed bids for the sale of mortgaged movable and immovable collateral assets.
Himalayan Bank Auctions Assets
The auction process was initiated after defaulting borrowers, proprietors, and guarantors failed to clear outstanding principal, interest, penal interest, and related service charges despite prior verbal reminders, written notices, and official 35-day public notices published in national daily newspapers.
Auction Terms, Submission Guidelines, and Recovery Provisions
The bank will proceed with selling the pledged properties on an as-is-where-is basis through a confidential sealed-bid process.
Application Window: Bidders must obtain and submit official bid forms within seven days from the publication date of the notice.
Bidding Method: Properties will be liquidated via a confidential sealed-bid process in strict compliance with the bank’s internal recovery regulations.
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Condition of Sale: All mortgaged properties will be sold on an as-is-where-is basis.
Bid Opening Procedure: Sealed bids will be opened on the scheduled date, and the auction process will proceed regardless of whether the concerned borrowers, guarantors, or bidders are physically present.
Loan Settlement Exception: Defaulting parties can stop the auction by fully clearing all outstanding obligations before the expiration of the notice period.
Asset Acquisition Clause: In the event that no valid bids are received or the properties remain unsold through the auction, Himalayan Bank reserves the right to acquire the assets as Non-Banking Assets (NBA) in accordance with prevailing laws.
Subsequent Legal Actions: If the proceeds from the collateral liquidation or asset acquisition fail to cover the full outstanding dues, the bank will initiate legal proceedings against the remaining personal and institutional assets of the borrowers and guarantors pursuant to the Bank and Financial Institutions Act, 2073, and the Debt Recovery Act, 2058.
For More: Himalayan Bank Auctions Assets
