Nabil Bank Limited Invites Bids for Vehicle Collateral Auction
24th August 2026, Kathmandu
Nabil Bank Limited has published a notice inviting sealed bids for the auction of a vehicle
Nabil Bank Vehicle Collateral Auction
The vehicle was pledged as collateral by a borrower who failed to clear loan liabilities. The notice was published on Bhadra 8, 2083 BS.
Auction Background and Repayment History
Despite repeated oral and written reminders, as well as a 35-day public notice published in the Naya Patrika national daily on Ashwin 25, 2079 BS, the borrower and guarantors failed to settle their outstanding principal and interest.
The vehicle pledged as collateral is not currently under the physical control of the bank and will be auctioned on an as is, where is basis under the Banks and Financial Institutions Act, 2073 and bank regulations.
Bidding Process and Key Deadlines
Submission Window: Interested individuals, firms, companies, and institutions must submit sealed bids within seven days from the publication date during office hours. If the final day falls on a public holiday, bids will be accepted on the following working day.
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Submission Location: Sealed application forms must be delivered to the Nabil Bank Loan Recovery Department located at Bijuli Bazar, Kathmandu.
Terms for Borrower, Guarantors, and Asset Transfer
Loan Settlement Rights: The borrower, guarantors, or related parties can stop the auction process by appearing before the bank and fully clearing all outstanding dues prior to the auction date.
Non-Banking Asset Provision: If no valid bids are received or the property remains unsold, the bank may take over the vehicle as a non-banking asset in accordance with the Banks and Financial Institutions Act, 2073.
Deficiency Recovery: If the auction proceeds are insufficient to cover the total debt, the bank retains the right to initiate recovery proceedings against the borrower and guarantors to seize other movable and immovable assets under the Debt Recovery Act, 2058 and prevailing laws.
For More: Nabil Bank Vehicle Collateral Auction
