Banking Court Karachi Public Auction of Mortgaged Property in Orangi Town

Banking Court No. 1, Karachi, before Judge Muhammad Saad Qureshi, announces a public auction of mortgaged immovable property in Execution No. 62 of 2024 arising from Suit No. 237 of 2023: Zarai Taraqiati Bank Limited versus Muhammad Aleemuddin, son of Muhammad Nizamuddin. The judgment debtor resides at House No. 58, Sector 11½, Gali No. 03, Orangi Township, Karachi.

The sale is ordered under Order XXI, Rule 64 of the Code of Civil Procedure, 1908, for satisfaction of the decree, together with costs and funds calculated from the filing of the suit until realization of the decretal amount.

The auction will take place at the mortgaged property on 9 December 2025 at 1:00 p.m. The property will be sold on an “as is, where is” basis. The market value is Rs. 2,670,000, and the forced sale value is Rs. 2,277,600.

The highest bidder declared successful must immediately deposit 25% of the bid amount through a pay order in favour of the Judge, Banking Court No. 1, Karachi, and provide a photocopy of the purchaser’s CNIC. Cheques and cash will not be accepted for this deposit.

The successful purchaser must pay the remaining purchase price into the court within 15 days of the auction. Failure to pay within this period will result in forfeiture of the 25% deposit. All government taxes and duties will be payable by the auction purchaser.

The sale is subject to confirmation by the court. The court reserves the right to cancel the auction or reject any bid, including the highest bid, at any time.

The notice was issued on 3 November 2025 by order of Ahmed Sohail Mahesar, Nazir, Banking Court No. 1, Karachi. The court is located at Block No. 51, Pakistan Secretariat, Saddar, Karachi.