Banking Court Karachi Auction of Flat in Billy’s Heights on 15 December 2023

Banking Court-III, Karachi, presided over by Judge Mrs. Naushaba Kazi, will conduct a public auction of mortgaged immovable property on 15 December 2023 at 1:00 PM. The auction will take place at Banking Court-III, Block No. 50, Pakistan Secretariat, Saddar, Karachi.

The proceedings relate to Execution No. 177 of 2021 in Suit No. 97 of 2020, House Building Finance Corporation, Gulshan-e-Iqbal, University Road, Karachi, versus Akhtar Hussain Bhatti, son of Ghulam Hussain Bhatti. The sale has been ordered under Order XXI, Rule 64 of the Code of Civil Procedure, 1908, for satisfaction of the decree. Future cost of funds at the prevailing rate notified by the State Bank of Pakistan will be calculated from the date of default until realization of the decretal amount.

The property 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 the Nazir, Banking Court No. III, Karachi, and provide a photocopy of their CNIC. Cheques and cash will not be accepted for this deposit.

The auction purchaser must pay the remaining purchase price before the court closes on the fifteenth day following the auction. Failure to pay the balance within 15 days 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 reject any bid, including the highest bid, or cancel the auction at any time.

The notice was issued under the hand and seal of Banking Court-III, Karachi, on 13 November 2023, by order of Muhammad Hassan, Nazir.