Auction of Gold Ornaments Against Security Deposit

Mobilink Bank branch Arif Wala is conducting an auction of gold ornaments against security deposits pledged by customers who have defaulted on their finance repayments. This auction is taking place in Arifwala, Punjab, and involves the sale of pledged gold items to recover outstanding financed amounts along with markup. Items being procured: - 6 Choorian, 6 Kanty (78 grams) pledged by Abdul Manan - 2 Kanty, 2 Locket chain (11.4 grams) pledged by Muhammad Shahid Shareef The auction covers gold ornaments held as security deposits at the Mobilink Bank Arif Wala branch. The bank has extended finance facilities against these pledges, and due to non-payment within the stipulated time, the bank is now auctioning these items. The auction date is set for 28-07-2026 at 10:00 AM, with the branch code 3021. Interested bidders should note that the auction is a direct sale of pledged gold items and no further public notice will be issued. The bank expects bidders to comply with all procedural requirements and submit earnest money or CDR as per auction terms. This is a unique opportunity for suppliers or buyers interested in gold ornaments in Arifwala. Eligibility to participate typically requires registration with the bank or auction authority, and bidders should ensure they meet all legal and financial criteria. The auction is a one-day event, so timely presence and preparation are essential. A practical tip for bidders is to verify the weight and details of the gold ornaments beforehand and arrange for immediate payment if successful, as the bank will not entertain delays. Early inspection and understanding of auction terms can improve chances of a successful bid.