AUCTION: Gold Ornaments Recovery by JS Bank Karachi Branches

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. JS Bank is conducting an auction for the recovery of pledged gold ornaments against outstanding loans. The auction covers multiple branches in Karachi and nearby areas, where defaulters have failed to repay their loans. The bank invites interested bidders to participate in the auction to recover the pledged gold ornaments as per the bank's rules and regulations. Items being auctioned include gold ornaments pledged by customers at various branches such as Gulshan-e-Hadeed Karachi, Bagh Branch AK, Korangi Industrial Area Branch, DHA Karachi, and others. The notice lists 225 customers with their pledged gold items and outstanding amounts as of 11th November 2025. Examples include Rajab Ali with an outstanding amount of PKR 2,480,000 at Gulshan-e-Hadeed Karachi, Muhammad Irfan Abbasi with PKR 2,580,000, and many others with amounts ranging from a few hundred thousand to over two million PKR. The auction covers a wide range of pledged gold ornaments held at different branches, providing bidders with numerous lots to choose from. The bank emphasizes that no request for rescheduling the auction date will be entertained and that the auction will be held on the 14th day after the publication of this notice. Interested bidders should ensure they meet the eligibility criteria, including earnest money or bid security as per bank requirements. The auction will be conducted at the respective branch locations listed in the notice. The last date for submission and participation is strictly enforced. Bidders are advised to carefully review the list of pledged gold ornaments and outstanding amounts before participating. One practical tip is to visit the branch offices beforehand to inspect the items and understand the auction terms to avoid any surprises during bidding. This auction presents a valuable opportunity for buyers interested in acquiring gold ornaments at competitive prices through a transparent and regulated process by JS Bank in Karachi.