The State Bank of Sikkim (SBS) has seized three properties following significant loan defaults. Kiran Chettri’s property near Tadong outpost in Gangtok was taken over after Sushila Chamling, daughter of former Chief Minister Pawan Kumar Chamling, defaulted on a ₹2.3 crore loan.
Hotel Lhasa in Gangtok was also seized by the bank after the owners failed to repay a ₹6 crore loan taken in 2017, despite multiple recovery attempts. Additionally, SBS attached land and a building owned by Palden Bhutia in Sangtong Block, Ranka, under Gangtok District, due to a ₹2 crore loan default. These actions were carried out as part of SBS’s legal recovery process.
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