NAMCHI,: The State Bank of Sikkim (SBS) has seized Hotel Sobralia, located at Purano Namchi, due to unpaid loan.
A team from the bank including chairman D.B. Gurung and managing director Phurba Wangdi Bhutia arrived at Purano Namchi today and took control of the property.
The action followed a notice issued on October 3, 2024, to the hotel’s owner, requiring settlement of the outstanding debt.
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Speaking on the occasion, the managing director and chairman said it was the first such attachment in Namchi district and was part of SBS’s efforts to recover dues from defaulters.