Gold Jewellery Auction of Pledged Items

LOLC Microfinance Bank Limited is conducting a public auction for gold jewellery pledged by a loan defaulter who has repeatedly failed to redeem their pledged items despite multiple reminders. This auction is scheduled to take place on August 11, 2026, starting at 1:00 p.m. The auction is being held to recover dues from the defaulted gold loan account. Items being procured: - Gold jewellery pledged by Muhammad Fazil, son of Sher Muhammad, with a net gold weight of 19.7 grams located in Jaranwala. The auction involves the sale of pledged gold jewellery held by the bank. The items are to be collected from the bank within seven days of the notice publication, failing which the auction will proceed. This process ensures recovery of the loan amount through the sale of collateral. Eligible bidders should be aware that this is a direct auction of pledged assets and must comply with the bank's auction terms and conditions. No prior registration or PEC category is required, but bidders should ensure they have valid identification and financial means to participate. The key date to note is August 11, 2026, for the auction commencement at 1:00 p.m. Interested parties should contact the bank promptly to confirm participation and understand the auction process. A practical tip for bidders is to inspect the pledged items beforehand if possible and verify the auction terms with the bank to avoid any last-minute issues. Timely presence at the auction venue is crucial to secure the desired items.