Auction of Gold Ornaments Against Defaulted Finance Facilities

Mobilink Bank Bhawal branch is conducting a public auction of gold ornaments pledged as security against defaulted finance facilities. The auction is scheduled for 31-07-2024 at 10:00 AM. This auction concerns the gold pledged by the customer Muhammad Faheem, residing at Post Office Khur, Saddar J. Wall, Tehsil Sargodha. The items being auctioned include gold ornaments weighing 17.1 grams, specifically 1 Gani and 2 Kanay. This auction is a result of the customer's failure to repay the finance extended by Mobilink Bank along with the markup. The bank has issued a notice that if the payment of the entire outstanding amount along with markup is not made within one day of the publication of this notice, the gold ornaments will be auctioned without further public notice. Bidders interested in participating should note the auction date and time carefully. The auction will be held at the Mobilink Bank Bhawal branch. No technical bid or earnest money is required as this is an auction of pledged goods. However, bidders should ensure they comply with all auction terms and conditions as per Mobilink Bank's policies. This is a unique opportunity for suppliers and buyers interested in acquiring gold ornaments through a bank auction process. It is advisable to inspect the items beforehand if possible and prepare for immediate payment upon successful bidding. The auction process is straightforward but requires prompt action due to the short notice period. A practical tip for bidders is to verify the authenticity and weight of the gold ornaments before the auction and arrange finances in advance to avoid any delays in payment. Mobilink Bank's Bhawal branch is the point of contact for any inquiries related to this auction.