Lahore High Court Auction of 80-Kanal Mortgaged Property in Sheikhupura

A proclamation of sale has been issued before the Lahore High Court, Lahore, in Execution Application No. 41824/2025 in COS No. 51158/2019, concerning Habib Bank Limited versus Compact Particle Board (Pvt.) Limited and other judgment debtors. The mortgaged property measuring 80 kanals in Mauza Marokay, Tehsil and District Sheikhupura, will be auctioned at the property site on Wednesday, 2 December 2026, at 2:00 PM. The reserve price for the land and building/construction is Rs. 200,000,000.

Decree holder: Habib Bank Limited, a banking company incorporated and functioning under the Companies Act, 1913, with its head office at Habib Bank Plaza, I.I. Chundrigar Road, Karachi; registered office at 4th Floor, Habib Bank Tower, Jinnah Avenue, Islamabad; and Corporate Centre branch at 102–103, Upper Mall, Lahore.

All individual judgment debtors are residents of 3-P, Gulberg-II, Lahore.

Mortgaged property: The entire property measures 80 kanals, bearing Khewat No. 28/31, Khatoni Nos. 87 to 103 and Qitta No. 113, according to the Jamabandi for 1986–1987 referred to in the sale deed. It also bears Khewat No. 33 and Khatoni Nos. 116 and 119. The property is situated at Had Bast Mauza Marokay, Tehsil and District Sheikhupura, and includes existing and future construction.

The land records include the Abstract from Register Haqdaran dated 14 March 2005 for 2002–2003. The property was acquired through a sale deed dated 6 April 1989, registered as Document No. 3447, Book No. 1, Volume No. 774, with the Sub-Registrar Sheikhupura. It was transferred through Mutation No. 242, approved on 22 May 1989, in the name of judgment debtor No. 1, the company.

Boundaries: Road to the east; properties of others to the west, north and south.

The total recoverable amount excludes the cost of funds and auction expenses.

Participation and bidding: Every member of the general public may bid after depositing Rs. 1,000,000 through a pay order or bank draft with the court auctioneers as earnest money, together with a copy of their CNIC, before bidding begins. Earnest money will be refunded to unsuccessful bidders. Bidding will start at the reserve price, and bids below it will not be accepted.

Acceptance of the highest bid: The highest bidder will be declared purchaser subject to court approval. The court or court auctioneers may decline the highest bid if it is considered inadequate.

Immediate payment and balance: Upon acceptance of the highest bid, the bidder must immediately pay 25% of the reserve price at the auction site through a pay order, bank draft or banker's cheque in favour of the Deputy Registrar (Judicial), Lahore High Court, Lahore. The balance of the bid/purchase price must be deposited or paid into court before the court closes on the fifteenth day following the sale/auction.

Default: Failure to make the 25% payment will result in forfeiture of the earnest money and immediate re-auction of the property. If the balance is not deposited within 15 days of the auction, auction proceeding costs will be deducted from the 25% deposit and the remainder forfeited. The auction will be cancelled and the property re-auctioned under Order XXI, Rule 86 of the Code of Civil Procedure, 1908.

Purchaser's due diligence: The property particulars are given according to the best possible information, and the court will not be answerable for any error. Prospective bidders must satisfy themselves regarding the title under auction before bidding. Neither the court nor the decree holder warrants the property's title or the existence of any mortgage, charge or other encumbrance.

Other conditions: The court auctioneers may adjourn the auction proceedings subject to Order XXI, Rule 69 of the Code of Civil Procedure, 1908. The property will be sold on an “as is where it is” basis. All taxes, stamp fees, duties, expenses and other charges levied by federal, provincial or local authorities in relation to the property will be borne by the purchaser.

Bank contact: Interested parties may contact Mr. Abid Waris Ali, Relationship Manager, Remedial Assets, at 0323-4896336 for further information.