Laxmi Sunrise Bank Announces Re-Auction Of Mortgaged Properties
31st July 2026, Kathmandu
Laxmi Sunrise Bank Limited has published a seven-day public notice announcing the re-auction of multiple mortgaged immovable properties.
Laxmi Sunrise Announces Re-Auction
The decision follows the failure of borrowing clients to settle outstanding loan principal, interest, and administrative charges within the prescribed timeframe.
The bank previously issued a 15-day public auction notice for the assets.
Because the liabilities remained unpaid, the bank initiated the re-auction process under the provisions of the Bank and Financial Institution Act, 2073 (2017) using a shorter seven-day notice period.
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Asset Locations And Pledged Collateral Details
The auction includes land parcels and physical structures mortgaged across several branch offices, including:
- Balaju Corporate Branch, Kathmandu
- Surkhet Branch
- Udayapur Gaighat Branch
- Pulchowk Branch, Lalitpur
The pledged collateral encompasses residential houses, land plots, and other immovable assets situated in Kathmandu, Kapilvastu, Udayapur, Lalitpur, and surrounding districts.
Bid Form Collection And Submission Procedures
Interested individuals, registered firms, corporate entities, and institutions can participate by following the application protocol:
- Form Acquisition: Application forms can be obtained from Laxmi Sunrise Bank’s Head Office at Hattisar, Kathmandu, or from the Credit Recovery Department at the respective branch offices.
- Submission Window: Sealed bids must be completed and submitted within seven days from the public notice publication date.
- Bid Opening Schedule: Bids will be opened at 11:00 AM on the final day of submission in the presence of bidders or their official representatives.
Legal Recourse And Cancellation Terms
Laxmi Sunrise Bank outlined the legal terms governing loan recovery and auction execution:
- Auction Cancellation Condition: If borrowers clear all outstanding principal, accrued interest, and associated costs prior to bid finalization, the auction process may be canceled in accordance with prevailing laws.
- Deficit Recovery Rights: If auction proceeds fall short of covering the total outstanding debt, the bank retains the legal right to recover remaining balances from borrowers, personal guarantors, or other legally liable parties.
- Official Inquiries: Prospective bidders can contact the Credit Recovery Department at the Head Office in Hattisar or the respective branch offices for detailed property evaluations.
For More: Laxmi Sunrise Announces Re-Auction
