Banking Court No. 1 Karachi Public Auction of Mortgaged Property

Banking Court No. 1, Karachi, before Judge Muhammad Saad Qureshi, has ordered a public auction in Execution No. 98 of 2010 arising from Suit No. 1165 of 2009, Faysal Bank Limited versus Shakir. The court is located at Block No. 51, Pakistan Secretariat, Saddar, Karachi.

Under Order 21, Rule 64 of the Code of Civil Procedure, 1908, the attached mortgaged property will be sold to satisfy a decree of Rs. 12,425,534.72, together with costs and cost of funds calculated from the filing of the suit until realization of the decretal amount. The auction is scheduled for 10 December 2026 at 11:00 a.m. at the mortgaged property.

The property will be auctioned on an “as is, where is” basis. The highest bidder must immediately deposit 25% of the bid amount through a pay order in favour of the Judge, Banking Court No. 1, Karachi, together with a photocopy of the purchaser’s CNIC. Cheques and cash will not be accepted for this deposit.

The remaining purchase price must be paid before the court within 15 days of the auction. If the purchaser fails to pay the balance within this period, the 25% deposit will be forfeited. All government taxes and dues are payable by the auction purchaser.

The sale is subject to confirmation by the court. The court reserves the right to cancel the auction, reject any bid even if it is the highest, or cancel the auction at any time.

The order was issued under the hand and seal of Banking Court No. 1, Karachi, on 3 November 2026, by Ahmed Sohail Makesar, Nazir.