The State Bank of Sikkim (SBS) has seized three properties in East Sikkim after repeated attempts to recover unpaid loans. One of the seized properties, located near Tadong outpost in Gangtok, is linked to Sushila Chamling, daughter of former Chief Minister Pawan Kumar Chamling. She defaulted on a loan of Rs 2.3 crore.
Another seized asset is Hotel Lhasa at Metro Point, Gangtok, whose owners failed to repay a Rs 6 crore loan despite repeated reminders. The third property, owned by Palden Bhutia in Sangtong Block, Ranka, involves a loan default of Rs 2 crore.SBS has issued notices to the owners, requiring them to vacate the Tadong property by February 28 and the Ranka property by March 3. No further modifications to the seized properties are allowed.
The bank plans to assess the properties, issue public proclamations, and auction them to recover the debts. “We urge all loan defaulters to repay their loans to avoid facing similar actions,” said an SBS official.
