GANGTOK,: The State Bank of Sikkim (SBS) has attached two properties in West Sikkim after the burrowers defaulted in repayment of their loans taken from the SBS.
A press release informs that the SBS officials earlier this week successfully attached one building at Deythang, Bhom Khola and a landed property at Khaniserbong under Soreng district.
The SBS team was led by the chief general manager (loan & recovery) who was accompanied by the general manager (recovery), manager (legal) and assistant manager (legal).
This action was carried out by the bank after completion of all legal formalities under relevant law for recovery of dues, said the SBS.
Speaking to the media, the SBS officials informed that this move is part of ongoing efforts for recovery of outstanding amounts.
The SBS has made it clear that such actions will continue if loans repayments are not made timely. Now the owner of the house has to vacate the property and the bank will sell these properties through public auction to recovery the dues, said the SBS.
The SBS chief general manager appealed to all the borrowers to make repayment of loans in timely manner or else the bank will be constraint to take such stern action to the defaulters, the release mentions.
