AUCTION: Gold Ornaments Pledged Against Loan Default at Halan Microfinance Bank Chiniot

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. Halan Microfinance Bank is conducting a public auction of gold ornaments pledged by a defaulter against a microfinance loan at its Chiniot branch. The auction is being held to recover the outstanding loan amount from the pledged assets. The auction will take place at the bank branch on 22 June 2024 at 11:00am. Interested bidders are invited to participate in this open auction process. Items being auctioned: - Gold ornaments (pledged by loan defaulter, total weight 100 grams, details available at branch) The gold ornaments are being auctioned as a single lot, with a total reserve price of Rs. 1,085,000. The items are available for inspection at the branch during working hours prior to the auction date. All participants must bring their original CNIC for registration and deposit earnest money as per bank policy before the auction begins. The auction will be conducted in accordance with the bank's rules and regulations. The highest bidder will be required to pay the full bid amount immediately after the auction is concluded. In case the reserve price is not met, the bank reserves the right to withdraw the lot. Only those who have deposited the required earnest money will be allowed to participate. A practical tip: Arrive early on the auction day to complete registration and inspect the gold items thoroughly, as no claims will be entertained after the auction is finalized. Ensure your bid security and CNIC are ready for a smooth participation process.