Machhapuchchhre Bank Issues 7 Day Notice For Auction Of Mortgaged Vehicle

22nd July 2026, Kathmandu

Machhapuchchhre Bank Limited has published a 7 day sealed bid auction notice for the sale of a mortgaged vehicle after the borrower failed to repay the outstanding loan despite repeated notices.

Machhapuchchhre Bank 7-Day Notice

The commercial bank decided to move forward with the public liquidation process after the specified individual or entity failed to settle their outstanding financial liabilities. This final action follows multiple past warnings and the formal expiration of a previously issued 35 day auction notice timeline.

The decision to initiate a rapid public sale reflects the strict credit monitoring policies of Machhapuchchhre Bank Limited. By converting non performing collateral assets into liquid funds, the financial institution aims to recover its stuck capital, reduce its non performing loan metrics, and protect stakeholder interest. This public notification serves as the absolute final legal framework available to the borrower before ownership transfer occurs.

Background On Overdue Liabilities And Prior Notice Expiration

Before taking the final step to auction the pledged vehicle, Machhapuchchhre Bank Limited followed all statutory steps required under national financial laws. The bank maintained documented communication lines with the defaulting client to provide adequate repayment opportunities.

The core reasons behind the issuance of the 7 day public auction notice include the following factors.

• The borrower violated the terms and conditions of the loan agreement by failing to repay the core principal, interest, and other applicable dues on time.
• A 35 day public notice had previously been published on June 9 2023, corresponding to Jestha 26 2080 BS, in a national daily newspaper.
• Despite the prior publication, the borrower did not settle the outstanding liabilities within the granted timeframe.

Exercising its legal rights under Nepal banking laws, Machhapuchchhre Bank Rambazar, Amarsingh Chowk Branch will auction the mortgaged vehicle through a confidential sealed bidding process in its current as is condition.

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Bidding Guidelines, Deposit Requirements, And Opening Timeline

Machhapuchchhre Bank Limited has established clear operational directives for interested individuals and organizations wishing to participate in the public auction process.

Prospective bidders must adhere to the following application parameters and procedures.

• Interested buyers can purchase the official bid document by paying a non refundable fee of exactly 1,000 Nepalese rupees.
• Sealed bids must be submitted within seven days from the official date of publication of the public notice.
• Applicants must attach a 10 percent bid security deposit based on their total offered purchase amount along with the bid document.
• The submitted bids will be formally opened on the eighth day at the branch office in the presence of interested bidders or their authorized representatives.
• The auction process will proceed smoothly on the scheduled date even if the borrower or submitting bidders choose to remain absent.

The bank has explicitly reserved the right to accept, reject, cancel, or negotiate any bid without assigning any specific reason, or even acquire the collateral asset itself in accordance with its internal recovery policies.

Blacklisting Warnings And Legal Recourse For Remaining Balances

Machhapuchchhre Bank Limited has issued a stern legal warning regarding the broader consequences of continued non payment. The bank is prepared to deploy additional credit enforcement mechanisms if the auction proceeds fail to cover the full liability.

The legal recovery measures outlined by the bank include the following actions.

• The borrower, proprietor, company directors, guarantors, and other related parties may be officially blacklisted as part of the formal loan recovery process.
• If the auction proceeds are insufficient to fully recover the outstanding dues, the remaining debt balance will be pursued through legal action as permitted by prevailing laws.

The bank strongly urges the borrower to contact the Rambazar, Amarsingh Chowk Branch immediately and fully repay the outstanding loan within the notice period to protect the mortgaged property from being auctioned.

For More: Machhapuchchhre Bank 7-Day Notice