Banking Court Karachi Public Auction of Micassa Luxury Apartment in Gulshan-e-Iqbal

Banking Court No. 1, Karachi, before Judge Muhammad Saad Qureshi, has ordered the public auction of a mortgaged apartment in Execution No. 129 of 2019, arising from Suit No. 206 of 2015. The proceedings concern House Building Finance Company, the decree holder, versus Aqeel Ahmed Siddiqui, son of late Ahmed Siddiqui, and Shabana Aqeel, wife of Aqeel Ahmed Siddiqui, the judgment debtors. Their residential address is Flat No. B-1407, Block 8, Micassa Luxury Apartment, Gulshan-e-Iqbal, Karachi.

The sale is being conducted under Order 21, Rule 64 of the Code of Civil Procedure, 1908, to satisfy a decree of Rs. 1,212,006, together with costs and the cost of funds calculated from the filing of the suit until realization of the decretal amount.

The apartment will be auctioned on an “as is, where is” basis. The highest bidder or purchaser must immediately deposit 25% of the bid amount through a pay order in favour of Nazir, 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 remaining purchase price must be paid before the court within 15 days of the auction. Failure to pay the balance within this period will result in forfeiture of the 25% deposit. All government taxes and dues 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, decline any bid even if it is the highest, or cancel the auction at any time.

The notice was issued under the hand and seal of Banking Court No. 1, Karachi, on 10 November 2025, by order of Ahmed Sohail Makesar, Nazir. The court is located at Block No. 51, Pakistan Secretariat, Saddar, Karachi.