Bank Alfalah Auction: Mortgaged Offices (305, 320, 303-A) — Terms & Contact (Karachi)

Issuer: Bank Alfalah Limited (Auctioneer/Appointed Agent: Aijaz Shirazi & Company). Public auction of mortgaged office units offered on an "as is where is" basis. Sale is subject to confirmation by the competent authority of the Bank.

Participation requirements and key terms:

Participation: Bring original CNIC plus three copies. Cutoff time for participation: 3:00 p.m. No bids below the stated reserve prices will be accepted.

Bid security and payment schedule: Each bidder must submit Rs. 500,000/- as surety by pay order in favor of Bank Alfalah Limited, handed to the Auctioneer. Surety will be returned to unsuccessful bidders after completion of the auction. The successful bidder must deposit 25% of the bid amount with the Bank within two days of the auction; the remaining 75% must be deposited within fifteen days from the initial deposit. If the successful bidder fails to deposit the remaining amount within the prescribed time, the surety and initial 25% deposit will be forfeited/adjusted against the borrower's liability and the auction will be re-initiated.

Additional conditions: The Bank may, at its discretion, participate in the public auction and purchase the mortgaged property by offering an amount ten percent higher than the highest bid. The successful bidder is responsible for all requisite taxes. The purchaser will bear expenses for execution of Sale Deed/Transfer Documents. The Bank reserves the right to reject any or all offers without reason.

Contact for further information: Bank Alfalah Limited, Office No. 501, 5th Floor, Fortune Centre, PECHS Block-6, Main Shahrah-e-Faisal, Karachi. Phone: 021-38207604; Mobile: +92-331-2557429.