State Bank of Sikkim seizes hotel in Namchi

NAMO DIXIT

NAMCHI,: The State Bank of Sikkim (SBS) has seized Hotel Sobralia, located at Purano Namchi, due to unpaid loan.

A team from the bank including chairman D.B. Gurung and managing director Phurba Wangdi Bhutia arrived at Purano Namchi today and took control of the property.

The action followed a notice issued on October 3, 2024, to the hotel’s owner, requiring settlement of the outstanding debt. 

Speaking on the occasion, the managing director and chairman said it was the first such attachment in Namchi district and was part of SBS’s efforts to recover dues from defaulters.