MIB: Collateralized special machinery seized due to loan debt

Using loan funds for their intended purpose and repaying them within the established deadlines is the legal duty of every borrower.

Otherwise, banks take measures to recover the debt by applying to the court, and the court sends the case to compulsory enforcement agencies. During the enforcement process, property is often seized and put up for auction.

The enforcement of a court decision regarding the recovery of a 1 billion 812 million soum loan debt from a debtor enterprise in favor of the Business Development Bank was carried out by the Sirdaryo regional department of the Bureau of Compulsory Enforcement.

Since the debt was not settled voluntarily, compulsory enforcement actions were initiated, and two "VOLVO" brand excavators, which were pledged as collateral, were seized and placed in an impound lot.

Measures are being taken to put these seized assets up for auction.