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      Dawn                     Posted Date: July 10,2024

 

The Bank Of Punjab Faisalabad Auction Notice in Dawn newspaper of 10 July, 2024 and more Tenders and Auction Ads of The Bank Of Punjab Faisalabad Auction Notice ( BOK ) 2024 published in Pakistani newspaper or PPRA

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All Tenders Website / Andriod App or whatsapp Access Price :
1Month = Rs 3000 (30 days)
6 Months = Rs 15,000
1 year = Rs 20,000 (recommended)

Send us WhatsApp Msg to Activate : 03441423583

Construction,Civil Works,Repair and Maintenance,Reconstruction,Roads Construction And Reparing ,
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THE BANK OF PUNJAB
THE BANK OF PUNJAB
PUBLIC AUCTION OF MORTGAGED PROPERTY MEASURING 2 - KANALS
OWNED BYYASIR MUNIR S/0 SHEIKH MUNIR AHMAD
SITUATED AT CHAK # 212 R.B., JAIL ROAD, FAISALABAD
WHEREAS the Banking Court - l, Faisalabad awarded a judgment and decree dated 03-11-2021 in COS No.106
of 2017 in favor of The Bank of Punjab and against the judgment debtors, below named, jointly and severally,
for a sum of Rs. 24,371,955/- with costs and cost of funds. The Judgment debtors failed to pay and satisfy the
amount of decree and a sum of is outstanding against the Judgment debtors as of 25-07-2024
under the said decree.
WHEREAS the Banking Court- l, Faisalabad vide order dated 12-03-2024 passed in Execution Petition # 636/21
has allowed the BOP to sell the mortgaged property without intervention of the Court under the provision of
section 19 (3) of the Financial Institutions (Recovery of Finances) Ordinance, 2001 and the decree in favor of
BOP constitutes and confers sufficient power and authority to sell the mortgaged property (mentioned below)
by public auction together with transfer of marketable title in favor of successful bidder.
WHEREAS in terms of Rules 3 and 4 of the Financial Institutions (Recovery of Finances) Rules, 2018 (upheld up
to the level of the Honorable Supreme Court), BOP got the mortgaged property independently evaluated by
three PBA approved professional Valuators (i.e. (i) M/s Zafar Iqbal & Company, (ii) M/s F.K.S Building Services
and (iii) M/s Sipra & Company (Pvt.) Ltd.) for determining the reserve price/forced sale value of the mortgaged
property. The highest valuation was conducted by M/s EKS Building Services, and, therefore, adopted as the
reserve price under rule 3 (b) (iii) ibid.
NOW THEREFORE BOP invites all interested persons/parties to participate in the public auction of the
mortgaged property (mentioned below) scheduled for 25th July, 2024, Thursday, at 02:00 pm at premises
of The Bank of Punjab, Liaqat Road Branch, Faisalabad.
The Bank of Punjab
Versus
(DECREE HOLDER)
1. M/s A1 Bario Textile Mills (Pvt) Ltd, having its place of business at 213 Montgomery Bazar, Faisalabad
through its CEO Mr. Yawar Munir.
2. Mr. Yawar Munir Son of Munir Ahmad, Resident of House No. 31-C Peoples Colony No.l, Faisalabad.
3. Mr. Yasir Munir Son of Munir Ahmad, Resident of House No. 31-C Peoples Colony Noel, Faisalabad.
4. Mr. Umer Munir Son of Munir Ahmad, Resident of House No. 31-C Peoples Colony No. 1, Faisalabad.
(JUDGMENT DEBTORS)
DESCRIPTION OF MORTGAGED PROPERTY AND RESERVE PRICE
Property Description
All that piece and parcel of land with present and future
constructions thereon Property measuring 02 Kanals out of
total area measuring 13 Kanals and 12 Marlas bearing
Khasra#976, Khewat#2805, Khatuni#3152, situated in
Chak#212 R.B., Jail Road, Faisalabad together with all
construction, machinery, fixtures, fixing, installations thereon
or to be installed thereafter and bounded owned by Mr. Yasir
Munir S/o Sheikh Munir Ahmad.
Reserve Price /
Forced Sale Value *
(Amount in PKR)
*As determined by M/s F.K.S Building Services (being the highest in value amongst other independent
valuations). The valuations by M/s Zafar Iqbal & Company and M/s Sipra & Company (Pvt).Ltd. were
Rs. 102/000,000/- and Rs. 104/000,000/- respectively.
Terms and Conditions:
1.
2.
3.
4.
5.
6.
7.
8.
9.
The valuation reports by the three valuators ibid can be inspected at the Special Assets Management
Division, Head Office, 6th Floor, BOP Tower, Main Boulevard Gulberg Ill, Lahore, at any time during office
hours. Copies can be provided on request.
The auction will be held on 25-07-2024 at The Bank of Punjab, Liaqat Road Branch, Faisalabad.
The bidding will start at 02:00 pm noon.
The Reserve price of the mortgaged property
entioned above. No bid shall be entertained or received
below the reserve price.
Interested parties, in order to participa iif!he auction, shall be required to submit Bank Draft/ Pay Order/
CDR for the sum of Rs. in ename of 'The Bank of Punjab' along with copy of CNIC and cell
number of the bidder.
Highest bidder will be declared t cessful bidder.
On acceptance of the bid by B9Pfi e successful bidder shall deposit minimum twenty-five percent (25%) of
the bid amount within two us ness days of the auction. The rest of the bid amount shall be deposited
within fifteen days fro
ate of the initial deposit. In case of failure of the bidder to deposit the
remaining amount withi1Y rescribed time line, BOP shall take the deposited amount forfeited towards the
reduction of liability ofthe borrower and re-initiate the auction proceedings for recovery of the remaining
outstanding amou
After receiving
II bid money, the Bank will transfer the property in the name of successful bidder.
Successful bidåer(s) shall pay all applicable taxes and expenses, costs, charges etc. in relation to the
transfer of titt&. Advance Income Tax under section 236 A @ 5% for filer & 10% for non-filer is applicable.
10. Upon execution and registration of the sale deed of the mortgaged property in favor of the successful
bidder, all rights, title and interest in such mortgaged property shall by law vest in the successful
bidder/purchaser and the mortgagor BOP shall be divested of any right, title and interest in the mortgaged
property.
11. The successful bidder will be responsible to get the property transferred in his name or his nominee within
30 days from the date of final payment.
12. The property shall be sold on 'as is where is basis,' BOP will not assume any responsibility viz. the title of the
property, charge/encumbrance thereon, measurements and the dues of Gas, Electricity, property tax etc.
Particulars of the property have been given as per best possible available information.
13. Bank Draft/ Pay Order/ CDR of unsuccessful bidders will be returned on the same day.
14.Any or all bids can be rejected by BOP without assigning any reason.
15. Other terms & conditions, if any, will be announced before commencement of open bidding.
Divisional Head-Special Assets Management Division
The Bank of Punjab, Head Office, 6th Floor, BOP Tower,
10-B, Block E-ll, Main Boulevard, Gulberg-lll, Lahore
Ph # 0322-4747081, (042) 35783899, 35783890, 35783700 10 Ext - 9634
O Newspaper ( 10 Jul, 2024)