Janata Bank auctions Janakantha Bhaban to recover unpaid loans

The 15-storey building in New Eskaton Road faces sale following the newspaper’s closure

State-owned Janata Bank has put the mortgaged property of once-prominent newspaper Daily Janakantha and its parent company Globe Janakantha Shilpa Paribar up for auction to recover defaulted loans.

The bank’s Dilkusha branch issued an auction notice in national dailies on Apr 30, seeking to recoup over Tk 2.05 billion in outstanding dues.

According to the auction notification, the primary asset listed for sale is the 15-storey "Janakantha Bhaban", situated on New Eskaton Road in Dhaka.

Interested bidders have been given until May 24 to submit their tenders, either directly into the tender box kept at the court or via registered post.

The reserved price for the property will be announced at the time of the auction, which will follow standard judicial procedures.

The notice clarified that neither the bank nor the court would bear responsibility for any disputes arising after the sale of the assets.

Daily Janakantha suspended both its print and online operations at the start of the Eid-ul-Fitr holidays.

Despite multiple extensions of the closure period, the newspaper has yet to return to publication.