Kathmandu, 22 July: The auction process of Phulbari Resort in Pokhara has been postponed by the court order. The auction process has been stopped after the Patan High Court passed an interim order on Thursday.
After failing to repay the loan of Rs 1.31 billion, the lending banks had started the process of auction. Thursday was the last day to apply for the mortgage auction through secret sealing according to the process carried out by the banks. However, the Kathmandu District Court and Patan High Court heard on Thursday the petition filed by the resort owner Piyush Bahadur Amatya to stop the auction process.
People’s News Monitoring Service
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