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The Bank Of Punjab Lahore Auction Notice for Public Auction Of Mortgaged Properties All The Piece & Parcel Of Factory Property Mearsuring Land,building,Construction,Total Measuring, , ****** Result for Image/Page 1 ****** THE BANK OF PUNJAB THE BANK OF PUNJAB PUBLIC AUCTION OF MORTGAGED PROPERTIES WHEREAS the Lahore High Court, Lahore awarded judgment and decree dated 14-11-2022 in C.O.S No. 258505/2018 in favor of The Bank of Punjab (BOP) and against the judgment debtors named below, jointly and severally, in the sum of Rs. 448,537, 126/- with costs and cost of funds. The judgment debtors have failed to pay the decretal amount. WHEREAS the Lahore High Court vide order dated 09-05-2024 passed jn Execution Petition No. 80613/2022 allowed BOP to sell the Mortgaged Properties (described below) without intervention of the Court under section 19(3) of Financial Institutions (Recovery of Finances) Ordinance, 2001 read with Financial Institutions (Recovery of Finances) Rules, 2018; the decree in favour of BOP constitutes and confers sufficient power on it to sell the mortgaged properties by public auction together with transfer of marketable title. WHEREAS in terms of Rules 3 and 4 of the Rules, 2018, BOP got the Mortgaged Properties independently evaluated by three PBA approved professional Valuators for determining the reserve price/forced sale value, pursuant to Notice dated 21-05-2024, informing the Judgment Debtors of appointment of the aforesaid Valuators and stating the time and date of their visits. No objection was received. The names of the Valuators are (i) MIS Tracom Pvt. Ltd. (ii) M/s Creative Consultants & Construction and (iii) M/s Sipra & Company Pvt. Ltd. WHEREAS the highest valuation was by M/s Sipra & Company Pvt. Ltd. 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 Properties as per the given schedule; NAMES OF JUDGMENT DEBTORS: 1. Sally Textile Mills Limited having its Head Office at 04-F, Gulberg-ll, Near Main Market, Lahore, through its CEO, Mian Iqbal Salahuddin and Factory at Chak No. 51/MB, Muzaffargarh Road, Jauharabad, District Khushab. 2. Mian Iqbal Salahuddin son of Mian Salahuddin (Director/Guarantor/Mortgagor) 3. Mian Yousaf Salahuddin son of Mian Salahuddin (Director/Guarantor/Mortgagor) 4. Mian Asad Salahuddin son of Mian Salahuddin (Director/Guarantor/Mortgagor) 5. Mst. Munira Salahuddin wife of Mian Salahuddin (Director/Guarantor/Mortgagor) All residents of House No. 42-G, Main Boulevard, Gulberg, Lahore. DESCRIPTION OF MORTGAGED PROPERTY(IES) AND RESERVE PRICE(S) Sr. 2. 3. 4. Property Description All that piece and parcel of factory/property measuring 519-Kanal & 08-Marlas, bearing Khewat # 121, Khatooni # 224, Square/Khasra # 68/10, 69/1, 10, 70/1, 2 to 5, 10, 71/1, 2 to 9, 10, 72/1, 2 to 9, 10.73/6 to 9, 10, 83/6, 7, 84/4, 5, 193, 68/11, 69/11, 70/11, 72/11, 73/11 & 71/11, Qitat 45. Chak No. 51/MB, Muzaffargarh Road, Tehsil Jauharabad, District Khushab, owned by JD No. 1, along with buildings, constructions, etc, total measuring 372,060 SQFT (approximately). All that piece and parcel of property measuring 2-Kanal, 2-Marlas & 150-SQFT, bearing Plot No. 3-F, Gulberg-ll, Lahore, owned by JDs No. 2, 3, 4 and 5, along with building, constructions, total measuring 8,652 SQFT (approximately). All that piece and parcel of property measuring 2-Kanal, 2-Marlas & 150-SQFT, bearing Plot No. 4-F, Gulberg-ll, Lahore, owned by JDs No. 2, 3, 4 and 5, along with building, constructions, total measuring 8,235 SQFT (approximately). All that piece and parcel of Open land, total measuring 90-Kanal & 13-Marlas, bearing Khewat 2788, 2789, 2790, Khatooni No. 1206, Khasra 418, 419, 3508/428, 3511/498, 3512/498, 3510/498/ 502, 503, 504, 3514/506, 691, -499, Qitat 3, 2, 7, situated at Pa ndi Road near Soap Factory, Mauza Ganja Kalan, Tehsil & District Lahore, owned by JDs No. 2, 3 and 4. Reserve Price/ Forced Sale Value* (Amount in PKR) * As determined by M/s Sipra & Company Pvt Ltd (being the highest in value amongst the three independent valuations). The valuations of above four properties by M/s Tracom Pvt Ltd were Rs. Rs. Rs. 108$204,800/-, Rs. respectively. Similarly, valuations of above four properties by by M/s Creative Consultants & Constructions, were Rs. Rs. Rs. Rs. respectively. Schedule of Bidding: 2, 3. 4. Property Factory (land & building) measuring 519-Kanals & 08-Marlas, located at Chak # 51/MB, Muzaffargarh Road, Tehsil Jauharabad, District Khushab. 03-F, Gulberg-ll, Near Main Market, Lahore. 04-Fi Gulberg-ll, Near Main Market, Lahore. Open land 90-Kanals & 13-Marlas, at Pandi Road near Soap Factory, Mauza Ganja Kalan, Tehsil & District Lahore. Auction Schedule Place of Auction: BOP Jauharabad Branch Date & Day: 30-07-2024 (Tuesday) Start of Bidding Time: 02:00 PM Place of Auction: 6th Floor, BOP Head Office, Main Boulevard, Gulberg•lll, Lahore. Date & Day: 01-08-2024 (Thursday) Start of Bidding Time: 03:00 PM Terms and Conditions: 1. The valuation reports conducted by the three valuators ibid can be inspected at Special Assets Management Division, Head Office, 6th Floor, BOP Tower, Main ulevard, Gulberg-lll, Lahore at any time during office hours. Copies will be provided on request. 2. The Reserve Price of Mortgaged Property are ioned above. No bid shall be received below the Reserve Price. 3. Interested parties, in order to participaqe,in.t eauction shall be required to submit Bank Draft/ Pay Order/ CDR in the sum of sepaftely for each property, in the name of 'The Bank of Punjab' along with a copy of CNIC and cell number' he bidder. 4. Highest bidder will be declared thOuccessful bidder. 5. On acceptance of the bid by BOP he successful bidder shall deposit a minimum of twenty-five percent of i ess days of the auction. The rest of the bid amount shall be deposited the bid amount within within fifteen days from ate of the initial deposit. In case of the failure of the bidder to deposit the remaining amount wit!!!) he prescribed time line, BOP shall take the deposited amount as reduction of liability of the borro etand re-injtiate the auction proceedings for recovery of the remaining amount. 6. After receiving the.!u I bid money, the bank will transfer the property in the name of successful bidder. 7. Successful shall pay all applicable taxes and expenses, costs, charges etc. in relation to the transfer of title:Advance Income Tax under section 236 A @ 5% for filer & for non-filer or as applicable w.e.fJuly 01, 2024. 8. 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 shall be divested of any right, title and interest in the Mortgaged Property. 9. 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. 10. 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. 11. Bank Draft/ Pay Order/ CDR of unsuccessful bidders will be returned the same day. 12. Any or all bids can be rejected by BOP without assigning any reason. 13.1n case auction of Property No. 01 is successful, BOP will share the sale proceeds of the same with NBP being Joint Pari Passu charge holder on Land & Building, on pro-rata basis. 14. Other terms & conditions, if any, will be announced before commencement of open bidding. SRM-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 ,0300-9680483, (042) 35783899, 35783865, 35783700-10 Ext 9634 O Newspaper ( 11 Jul, 2024) from Dawn dated 11 July, 2024

All Tenders Website / Andriod App or whatsapp Access Price :
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Send us WhatsApp Msg to Activate : 03441423583