AUCTION: Gold Ornaments Security Deposits Recovery by JS Bank

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 notice for the recovery of security deposits against gold ornaments pledged by various customers nationwide. The bank has extended finance facilities to defaulters who have failed to repay their loans along with markup. The bank now intends to auction these pledged gold ornaments within 14 days of this notice's publication. No request will be entertained after the auction date, and no further public notice will be issued for payment of the outstanding amount. Items being auctioned include pledged gold ornaments linked to numerous customers with details such as customer name, father name, customer address, branch name, and outstanding amount in PKR. The list includes over 300 entries with outstanding amounts ranging from tens of thousands to several millions of rupees. Some notable entries include customers from branches like Gulberg, Johar Town, Model Town, and others. This auction provides an opportunity for interested bidders to acquire gold ornaments by settling the outstanding dues. The auction covers a wide range of pledged items across JS Bank's nationwide branches. Bidders should ensure they review the full list of customers and outstanding amounts carefully. Earnest Money or CDR requirements, auction terms, and conditions will be as per JS Bank's standard auction policies. Interested parties should contact the respective JS Bank branches for further details and submission procedures. The auction deadline is strictly 7 days from the notice publication date. Bidders are advised to prepare their technical and financial bids accordingly and submit them at the designated JS Bank branches. One practical tip for bidders is to verify the authenticity and condition of the pledged gold ornaments through the bank before bidding to avoid any discrepancies. This auction is a critical recovery effort by JS Bank to clear outstanding dues and liquidate pledged assets efficiently.