Ruenvadee Suwanmongkol, director-general of the Legal Execution Department.

A total of 4,340 rai of land along the Bang Na-Trat highway in Samut Prakan province will be offered for auction in June, part of the disposal of assets tied to the Krungthai Bank's illegal 10-billion-baht loan to a Krisdamahanakorn subsidiary.

Ruenvadee Suwanmongkol, director-general of the Legal Execution Department, said on Friday her department would organise the June 6 auction of the mortgaged land.

It comprised 215 lots at the 32nd kilometre marker of the highway held under the name Debaratana and had been valued at 8.9 billion baht, she said.

Krungthai Bank (KTB) wanted one auction for all of the land because they were connected, she said.

In 2015, the Supreme Court's Criminal Division ordered Krisdamahanakorn, renamed AQ Estate Plc, to repay 10 billion baht jointly with 19 KTB executives - including former KTB president Viroj Nualkhair and ex-chairman Suchai Jaovisidha - over a deal involving Krisdamahanakorn affiliate Golden Industrial Park.

Former prime minister Thaksin Shinawatra was the first defendant in the Krungthai loan case, in which the state-owned bank was found to have inappropriately lent about 10 billion baht to subsidiaries of Krisdamahanakorn Plc in 2003-04 while he was prime minister.

The property developer at the time was classified as a non-performing debtor of the bank. It was alleged that KTB faced political pressure to make the loans.

In 2015, the Supreme Court sentenced 16 people to jail terms ranging from 12 to 18 years for malfeasance in connection with the case. They included three former KTB executives, who reach received 18 years.

In addition, Thaksin's son Panthongtae and three other suspects were accused of money laundering in receiving cheques, worth 10 million baht and 26 million baht tied to the loan.