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Auction of Property Sale : Flat No M-21, 3rd Floor, Apsara Apartments Phase-III, Block No 16,Gulshan-e-lqbal admeasuring 1119 Square Feet.

Request For Proposals

General Information
Country:   Pakistan
City/Locality:   Karachi
Notice/Contract Number:   ept:4864998
Publication Date:   Sep 8, 2010
Deadline:   Sep 20, 2010
Buyer:   Pakistan Standards And Quality Control Authority
Original Language:   English

Contact Information
Address:   Pakistan Standards And Quality Control Authority
Advocates, 2nd Floor, MDA Building, PBL-C-3 Khayaban-e-Saadi, Phase-VTI, DHA
Karachi
Pakistan
Telephone:   35317685, 35687532, 5638420-22

Goods, Works and Services

 

Original Text

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Opening date of tender: 09/20/2010 00:00

Note: Outstanding Amount in PKR : 4,923,462.09
Bank Reserve Price : 3,360,000/-

Sealed bids ate invited for tie sale of following properties under provisions of Financial Institutions (Recovery of Finances) Ordinance. 2001. Tie customer /mortgagor has defaulted in payment of Bank's dues despite service of three notices u/s 15(2) of the Financial Institutions (Recovery of finances) Ordinance, 2001 and therefore, the Bank is selling tie Mortgaged Properties through public auction for recovery of its dues by inviting sealed tender & for the following properties.
Separate sealed bids/offers (Preferably on Banks bid/offer Form that can be available on request from the below mentioned address) of each property must be received by the undersigned Bank on or before October 4,2010 before the close of business hours. Please mention bids for purchase of Property with property number outside of envelope, against which the bids is being submitted. All bids must be accompanied by earnest money by way of a demand draft/pay order equal to (20%) of the bid amount and made payable to KASB Bank Limited. Sealed bids shall be opened on October 5.2010 at 3:30 pm at the office of KASB Bank Limited 315-318 Progressive Plaza. Beaumont Road, near PIDC Karachi in presence of such bidders as are present. The highest bidder will be declared successful. However, the decision of the auction Committee will be final. The Bank has tie right to fix the reserve prices.
The mortgaged properties as mentioned above shall be sold on is where is basis. All registration fee stamp duty or any other duty or expenses in respect of transfer of title in favor of the auction purchaser will be born by him. The Bank shall not be responsible for payment of any utility dues, taxes or other charges outstanding in respect of the mortgaged properties. The balance of purchase price shall be paid by the person declared to be successful bidder/purchaser within fifteen days from the date of acceptance of his bid by the Bank, failing which tie earnest money shall stand forfeited. The unsuccessful bidders shall be refunded their earnest money within 14 days of the opening of the bids. The Bank reserves the right to cancel the bid or not to accept any bid even if it is the highest, without assigning any reason or in case of non acceptance or receive of bid to re-auction the properties. Similarly, the Bank has the right to postpone the Auction, without assigning any reason.
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