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PUBLIC AUCTION
COMMERCIAL PLOT FOR SALE AT MULTAN
Offers are invited on “As is where is basis” for sale of plot measuring about 606.66 sq. yards situated at 61-Abdali Road, Multan in J.C. Misc. No. 29 of 2019 (Sindh High Court)-State Bank of Pakistan Vs. IDBL & Others. The Reserve Price for the auction is Rs.144.600 million.
CONDITIONS
(I) Offers be accompanied with Earnest Money (E.M.) equivalent to 10% of the “Bid Amount’ in the shape of Pay Order/Bankers Cheque in favour of “INDUSTRIAL DEVELOPMENT BANK LIMITED (UNDER LIQUIDATION)
alongwith a copy of the CNIC to reach the undersigned on 23.06.2025 (Monday) at 11:00 A.M., which will be opened at
11:30A.M. at the address mentioned below in the presence of the Bidders or their duly authorized representatives who may wish to be present. (ii) The undersigned may call the Bidders immediately for the improvement of offers with further payment of 10% of the enhanced/improved Bid Amount. (iii) The undersigned may adjourn/cancel the auction proceedings without assigning any reason thereof. (iv) The highest/selected Bid shall be subject to acceptance and confirmation by the Honourable High Court of Sindh, Karachi. (v) The full amount of the Bid money shall be paid by the successful Bidder on or before the 90th days after the acceptance of Bid of the property by the Honourable High Court. (vi)In case of default in payment by the successful Bidder within the time period allowed, the property may be re-auctioned after publication of a fresh Auction Notice. The Earnest Money alongwith partial payments, if any, paid by the successful bidder, shall be forfeited. Further, the defaulting Bidder shall also lose all rights/claims whatsoever against the said property/IDBL (Under Liquidation)? Liquidator orto any part of the sum for which it may be subsequently sold. (vii)AII dues, taxes and outstanding against the property may be enquired by the Bidder himself from the respective departments and it shall be the sole responsibility of the successful Bidder to pay off such dues/taxes and outstanding as the property above described is being put to auction on as is where is basis with all liabilities due to the respective authorities shall be borne by the successful Bidder. (viii) Upon receipt of entire ‘IBid Amounts within stipulated time period of 90 days. the property shall be transferred in the name of successful Bidder(s) at his/their own cost i.e. stamp duty, registration charges and legal documentation fee etc. shall be borne by the successful Bidder(s). (ix) Inspection of property may be conducted by the interested parties on 12.06.2025 (Wednesday) from 11:00A.M. to 02:00 P.M., in the presence of representative of Official Liquidator before the last date of submission of bids.
Further information, may be obtained from the Telephone No.
021-99213655 (E-mail: idbphr@yahoo.com) & 042-99201163-
64 (E-mail: idbplahore@yahoo.com).
Sd! QASIM NAWAZ)
OFFICIAL LIQUIDATOR
Industrial Development Bank Limited (Ut.),
Head Office, 3rd Floor, State Life Building No.2,
Wallace Road Off: 1.1. Chundrigar Road, Karachi.
