Kathmandu. The residents of the locality have brought the old landlords to the house in which the bank auctioned . Lumbini Development Bank has brought the old landlord to a house in Milan Chowk, Butwal {{}.

A group led by Durga Prasain and the locals of the locality of } and Durga Prasain haveauctioned the house worth at least Rs 5.5 million in collusion with a third person of and a group led by Durga Prasain.

Who is the old landlord? What is the scam?

Durga Bahadur Poudel and Laxmi Basnet Poudel are the owners of the house said to have been auctioned by Lumbini Development Bank. They are businessmen.

Paudel had taken a loan of Rs. 48 lakhs from Lumbini Development for the operation of the printing press. However, due to the recession, they could not pay any installments . According to the bank’s claim of , they have to pay Rs. 58 lakhs to bank including loan of Rs. 48 lakhs and interest on the loan.

The bank had auctioned the house for Rs 53 lakh, saying that the bank had not repaid the loan . The house was purchased by Govinda Lamichhane, who is a resident of Surkhet.

Locals claim- ‘The house is not less than 1.5 crore’

Locals claim that the value of the house is not less than 1.5 crores. Locals claim that the price of the house is not less than 1.5 crores. According to the current market price, the price of the house auctioned by the bank (53 lakh) is not even 3 dhur land.

Paudel, a former landlord, said that the bank had made a valuation of Rs 81.91 lakh by whileissuing the loan. However, Poudel has alleged that the bank sold the house at a throwaway price of in the name of auction. He said that even though there was an agreement to sell the house by selling the house, the bank forcibly auctioned the house .

So much so that the former landlord and locals have also suspected of collusion in the sale of the house worth Rs 1.5 crore by the bankfor Rs 5.5 million for Rs 5.5 million.

Devi Sangraula, coordinator of the Borrowers Association under the Durga Prasain-led Rashtra, Nationality, Religion, Culture and Citizens Save Campaign, said that the house was returned to the borrower after the bank sold the house worth Rs 15 million for Rs 53 lakh. He also claimed that if this situation continues, all the properties auctioned will be returned to the borrower in turn.

The bank says, ‘After the loan was not repaid, the process was completed and auctioned’

Meanwhile, Harikrishna Subedi, information officer of the bank, said that the mortgage was auctioned by the bank after completing all the procedures . According to him, the loan is 4-5 years old.

However, even though the borrower completed the process and auctioned the mortgage after not repaying the loan, Subedi said that now the search for is being done on many pretexts. “The mortgage auction was done after completing all the procedures. They had filed a case in the district court and have lost that case as well. Talking to Finance Concern, Subedi said, “The bank has not made any error }. They don’t repay the loan, they do it after the auction. ’

When asked why the house worth Rs 15 million was sold for Rs 53 lakh,he said that the house was auctioned on the basis of valuation as he did not do the valuation of the mortgage and the engineer would do it.