Notices Closed 16 Nov 2006
Banking Court No.1 Karachi Public Auction — Sea Breeze Plaza Flat & North Nazimabad Plot
Banking Court No.1 Karachi Public Auction · Karachi · The News International,
Notice advertisement published in The News International on Friday, 9 October 2026, listed under Karachi, Pakistan. Issued by Banking Court No.1 Karachi Public Auction. The last date printed on the advertisement was Thursday, 16 November 2006 and has passed.
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Banking Court No.1, Karachi (Judge: Mr. Muhammad Saad Qureshi) has ordered public auction of mortgage properties to satisfy a decree in Suit No. 254 of 2001, Execution No. 29 of 2003 involving Allied Bank Limited. Sale is subject to confirmation by the Court. Deposits, payment schedule and other conditions are listed below.
| Property | Description | Market Value (Rs.) | Forced Sale Value (Rs.) | Auction Date & Time | Location |
|---|---|---|---|---|---|
| Property No. U-71 | Plot measuring 425.07 sq. yds., Block-D, North Nazimabad, Y-Division No. Y | 34,161,000 | 30,745,000 | Not specified | North Nazimabad, Karachi |
| Flat No. 1201, 12th Floor | Project known as Sea Breeze Plaza, Block A, near Faisal Bank House, Shahrah‑e‑Faisal | 11,500,000 | 10,350,000 | 2006-11-16 at 01:00 PM | Shahrah‑e‑Faisal, Karachi |
Combined market value of both properties: Rs. 45,661,000; combined Forced Sale Value: Rs. 41,000,000.
Key terms:
- Highest bidder must immediately deposit 25% of the bid by pay order in the name of Judge, Banking Court No.1, Karachi and submit photocopy of CNIC. No cheque or cash accepted for the 25% deposit.
- Balance of purchase price to be paid before the Court closes on the 19th day from the date of auction; if the purchaser fails to pay within 15 days from the date of auction, the 25% deposit will be forfeited.
- All government taxes and dues to be paid by the auction purchaser.
- The Court reserves the right to cancel the auction or not to accept any bid.
Notice signed by Nazir, Banking Court No.1, Karachi (Ahmed Sohail Makesar). Date: October 2006.
Published in The News International on Friday, 9 October 2026. DailyAds.pk indexes newspaper advertisements; the original notice and the issuing organisation remain the source for final terms and eligibility.
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