Gold Jewellery Auction of Pledged Items from Defaulting Borrowers

LOLC Microfinance Bank Limited is conducting a public auction of pledged gold jewellery from borrowers who have repeatedly failed to redeem their loans despite multiple reminders. This auction is a final opportunity for the defaulters to collect their pledged jewellery within seven days of this notice’s publication. Failure to comply will result in the auction of these pledged items. Items being auctioned include pledged gold jewellery with specific details as follows: - Hazrat Khan (61 grams) from Hyderabad - Ubedullah (3.7 grams), Shahzado (9.47 grams), Ali Gohar Sangrah (16.8 grams) from Moro - Liaqat Ali (7 grams) from Naushahro Feroz - Sajjad Ali (4.3 grams) from Shahdadpur - Asif Bhurghari (9.9 grams), Asif Ali Shair (31.7 grams) from Sujawal - Nadeem Ahmed (5 grams), Asadullah Shaikh (33 grams), Mehar Ali Mangi (7.9 grams) from Sukkur - Hubdar Ali (8.5 grams) from Tando Adam - Simmi Aqulani (7.49 grams), Saifal Khaskheli (4.8 grams) from Tando Allahyar The auction will be held at the respective locations on the dates specified, starting at 1:00 p.m. The bank urges all concerned parties to act promptly to avoid loss of their pledged assets. This auction is a legal recourse to recover outstanding loans and is conducted under the bank’s regulatory framework. Bidders and interested parties should note the auction dates carefully and prepare accordingly. No technical bid or financial bid submission is required as this is an auction of pledged goods. The bank’s contact details for further inquiries are not provided in the notice. A practical tip for bidders is to verify the authenticity and weight of the jewellery on the auction day and ensure timely presence to avoid missing the opportunity. This auction represents a unique chance to acquire gold jewellery at potentially competitive prices, but due diligence is essential. The auction process is transparent and final, with no further extensions beyond the stated seven-day period.