Banking Court-III Karachi Public Auction of Al-Karam Square Shop on 10 December 2009

Banking Court-III, Karachi, before Judge Mrs. Naushaba Kazi, has ordered the public auction of mortgaged immovable property in Execution No. 103 of 2009 arising from Suit No. 186 of 2008. The proceedings concern National Bank of Pakistan, Karachi, as decree holder, versus Muhammad Saeed Ahmed Siddiqui, son of Muhammad Nazir Ahmed Siddiqui, as judgment debtor.

The auction will take place on 10 December 2009 at 1:00 p.m. at Banking Court-III, Block No. 50, Pakistan Secretariat, Saddar, Karachi, under Order XXI, Rule 64 of the Code of Civil Procedure, 1908.

The judgment debtor's residential address is House No. R-486, Sector 15-A/11, North Karachi. The business address is Shop No. C-26, Ground Floor, Block-B, Al-Karam Square, Block B, Federal Capital Area, Karachi.

Auction terms and conditions:

1. The property will be auctioned on an “as is where is” basis at the court.

2. The highest bidder or purchaser must immediately deposit 25% of the bid amount through a pay order in the name of the Nazir, Banking Court-III, Karachi, together with a photocopy of their CNIC. Cheques or cash will not be accepted for this deposit.

3. The successful bidder or purchaser must pay the balance before the court closes on or before the fifteenth day following the auction. If the balance is not paid within 15 days, the 25% deposit paid on the auction date will be forfeited.

4. All government taxes and dues will be borne by the auction purchaser.

5. The sale is subject to confirmation by the court.

6. The court reserves the right to cancel the auction or reject any bid, including the highest bid, at any time.

The notice was issued under the hand and seal of Banking Court-III, Karachi, on 7 November 2009, by order of Muhammad Hassan, Nazir, Banking Court-III, Karachi.