Yeti development to sell 11 lakhs units promoter shares of NCC Bank

Sharesansar, December 11:

Yeti development Bank (YETI) has issued notice to sell 1.1 million units promoter shares of NCC Bank. After Default of the loan against shares provided to NB Group and their companies, Yeti has finally decided to auction these pledged shares.

These shares were pledged as collateral to take the loan on behalf of Zenith Investment and Securities, NB investment Pvt. ltd. and Laxmi Bahadur Shrestha’s name.

386 thousand units of shares by Zenith investment, 78 thousand 5 hundred units of shares by Anar Devi Shrestha, 36 thousand units of shares by Laxmi bahadur Shrestha, 199 thousand 5 hundred units of shares by Binu shrestha, 420 thousand five hundred units of shares by NB investment were pledged for loan.

Jit bahadur shrestha is the chairperson of both NB Group and Zenith Investment Pvt. Ltd Company.  Yeti has urged investor to apply for the bidding process. Bidding process will open till 24 December and will be distributed on December 26.  If shares remain unsold, Yeti is going to adopt these.