Kathmandu. Borrowers have padlocked the Agriculture Development Bank (ADB) for not repaying big loans and harassing small borrowers by violating the rules. On Thursday, the bank’s Lahan branch in Siraha was padlocked by the bank’s borrowers. The bank’s side has accused the bank of flouting the process and auctioning the valuable land at a cheaper price in collusion with the bank’s staff.

They had padlocked the bank’s branch office and chanted slogans, accusing the bank of auctioning the collateral without informing them and following the due process. They have threatened to protest unless the bank returns the land that was auctioned by bypassing due process.

According to Ram Chandra Yadav of Lahan Municipality-2, he had taken a loan of Rs 3 million on February 28, 2020 by mortgaging 7 dhur land in the bank. Yadav said that he has so far paid a total of Rs 19,92,773 as principal and installment of the loan. However, Yadav alleged that the bank had auctioned his land.

The bank has been agitated after the bank auctioned the land worth Rs 15 million for Rs 35 lakh without any knowledge. They have also announced a protest by padlocking the bank.

Meanwhile, the employees of the bank have claimed that the land was auctioned as per the due process. An employee of the bank said that they were locked inside the bank for the whole day after the borrowers suddenly came and padlocked the bank and started shouting slogans. “All of a sudden, the borrowers came, locked the banks and started shouting slogans. The employee said, “We were locked inside the bank for the whole day, we also informed the central office about the incident, but the CEO sir did not even know about the situation.” ’