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Auction Sale of Mortgaged Property: House No 545, Street No 5, G-11/I, admeasuring 500 sq yards, House 7, I-8/3, Main Street Opposite Park, admeasuring 600 Sq Yards.

Request For Proposals

General Information
Country:   Pakistan
City/Locality:   Islamabad
Notice/Contract Number:   ept:4103420
Publication Date:   Nov 19, 2009
Deadline:   Nov 25, 2009
Buyer:   Government Of Pakistan
Original Language:   English

Contact Information
Address:   Silkbank Building, I.I. Chundrigar Road
Islamabad
Pakistan
Telephone:   111-00-7455, (Ext-200
Fax:   021-2460471

Goods, Works and Services

 

Original Text

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Opening date of tender: 11/25/2009 00:00

Note: Auction Sale of Mortgaged Property: House No 545, Street No 5, G-11/I, Islamabad, admeasuring 500 sq yards, House 7, I-8/3, Main Street Opposite Park, Islamabad admeasuring 600 Sq Yards.

Public is hereby notified that Silkbank Limited, Silkbank building, I.I. Chundrigar Road, Karachi (hereinafter referred to as bank) in exercise of the powers U/S 15 of the financial institutions (recovery of finance ordinance) 2001, will sell the following mortgaged properties for recovery of due amount of Rs. 71,730,859.44 being security for the finance allowed to M/s Al-Tameeraat. Public Auction will be held as per the following schedule and conditions. a) Name and Address of the Borrower / Defaulter; M/s Al-Tameeraat Suite # 204, Tahir Plaza, Plot No. A-20, K.C.H.S.U., Commercial Area, Karachi b) Present Outstanding Liability against the Borrower; Principal: Rs 55,868,311.28, Mark-up:Rs 15,862,548.16, Total: Rs 71,730,859.44, c) Name and Address of the Mortgagor(s). Col ® Sajjad Zaheer House # 545, Street # 5, Sector # G-11 /1, Islamabad, S/o Choudhry Abdul Hameed, Mr. Masood Ahmad House # 7 Sector I-8/3, Main Street Opposite Park, S/o. Choudhry Barkat Ali Islamabad; d) Details of mortgaged properties: House # 545, Street No. 5, Sector G-11/1, Islamabad, admeasuring 500 Sq. Yards; House # 7, Sector 1-8/3, Main Street Opposite Park, Islamabad, admeasuring 600 Sq. Yards; The above mentioned mortgaged properties are offered for sale by way of public auction on 25th November, 2009 at 3.00 PM to be held at Silkbank Ltd., Silkbank Building I.I Chundrigar Road, Karachi, and subject to the following terms and conditions: Mortgaged properties will be auctioned on "as is where basis" Sealed tender (bid) should be delivered on or before 7th December, 2009 to the attention of Karachi (1) Mr. Minhajuddin Shaikh, General Manager, SAMG (South), Silkbank Limited formerly called Saudi Pak Commercial Bank Ltd., Silkbank Building, I.I. Chundrigar Road, Karachi, Tel 111-00-7455, (Ext-200, Fax # 021-2460471, Direct # 021-2460469 (2) Mr. Akbar Ali, Regional Head, SAMG (South), Tel: 111-00-7455, (Ext-246, Fax # 021-2460471, Direct # 021-2462901, Mobile No. 0300-4454442, Islamabad (3) Mr. javied Akhtar, Senior Relationship Manager, SAMG (North), Silkbank Limited, Razia Sharif Plaza, Blue Area, Islamabad, Tel: 051-2879195, Mobile No. 0300-9524927, along with the photocopy of CNIC and Pay Order equal to 15% of the bid price in favour of Silkbank Ltd., which shall be opened in presence of the bidder at 11.00 a.m. on the next working day i.e 8th December, 2009. On the acceptance of the highest BID, the pay order will be returned to the unsuccessful bidders. The sale shall be subject to the confirmation by the competent authority. The successful bidder shall be liable to pay the balance of purchase price i.e. 85% of the accepted bid within 30 days from the date, declared successful. Default in payment of balance 85% by the successful bidder within stipulated time shall result in confiscation of already deposited 15% amount and the property will either be sold afresh by public auction or the next highest bidder will be required to match his offer. All taxes, fees, transfer expenses, stamp duty, documentations etc., shall be borne by the purchaser for transferring the properties in their name. The bank shall not be responsible for the payment of any utility dues, taxes or other charges whatsoever outstanding in respect of the mortgaged properties. The bank reserves its right to cancel the auction or not to accept any bid(s) for any reason whatsoever. For further details please contact the above noted officials.
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