A serious case of negligence by the Agricultural Development Bank in Lahan, Siraha, has come to light. The bank secretly auctioned the property of a borrower who had been paying interest on his loan monthly.
Ramchandra Yadav, a resident of Sishwani, Lahan Municipality-22, took a loan of 30 Lakh rupees on 15th Falgun, 2077 (Nepali calendar). As collateral, the bank had his 7.25 Dhur land with plot number 469 in Lahan and a 12-room, two-story house registered at the land revenue office.
Ramchandra had been regularly paying interest on the loan to the bank. To date, he has paid a total of 19 lakh 92 Thousand 773 Rupees and 9 Paisa in interest. However, it was discovered that the bank had quietly auctioned his house and land without informing him.
The land is located near the East-West Highway. According to Ramchandra, the current market value of the property, including the house and land, is 1 Crore 45 Lakh rupees for the land and 50 Lakh rupees for the house, totaling 1 Crore 95 Lakh rupees. But the bank auctioned the house and land for only 35 Lakh rupees.
According to bank sources, Tara Kumari Rauniyar, 46, from Bhokrahawa-3, Sunsari, was the one who seized the property at the auction. It appears that the bank did not complete the necessary procedures when registering the property in her name.
Ramchandra, the affected borrower, said, “I have been paying the bank installments regularly. But without informing me, my house and land worth nearly 2 Crore Rupees were auctioned off for a pittance. The bank has done me a great injustice.” Even after the property was auctioned, the bank continued to accept the interest payments, according to Ramchandra.
Ramchandra expressed his frustration, claiming that the bank’s actions had driven him to the point of contemplating suicide. He demanded justice and issued a public statement on 10th Poush.
He said, “I have paid the loan interest. Even now, I am willing to pay the auction price, but I want my property back. If it is not returned, the bank should take full responsibility for any harm caused to my family.”
He warned the bank that if his property was not returned, he would take drastic measures, including taking his own life. When the bank ignored his plea, Ramchandra, along with his family and relatives, locked the bank on Thursday, halting operations for the entire day.
Following the lockout by the victim’s family, a meeting was held in the evening with the presence of representatives from the Lahan Chamber of Commerce and Industry. During the meeting, the bank agreed to freeze the land that was seized by Rauniyar and initiate the process of transferring the property back to Ramchandra’s name. This agreement was confirmed by the president of the Lahan Chamber of Commerce and Industry, Bikash Sharda.
