Gold Jewellery Auction of Loan Defaulters

LOLC Microfinance Bank Limited is conducting a gold jewellery auction for loan defaulters who have repeatedly failed to redeem their pledged jewellery despite multiple reminders. This auction is a public notice to inform the concerned parties to collect their jewellery within seven days of publication, failing which the pledged items will be auctioned. The auction is scheduled to commence at 1:00 p.m. Items being procured: - Gold jewellery pledged by Muhammad Irfan (4.5 grams) from Chak Jhumra - Gold jewellery pledged by Ali Raza (9 grams) from Daska - Gold jewellery pledged by Gulfam Asghar (23.85 grams) from Mandi Bahauddin - Gold jewellery pledged by Siraj Khan (19 grams) from Mardan - Gold jewellery pledged by Hina (62.3 grams) from Mardan - Gold jewellery pledged by Tariq (11.5 grams) from Mardan - Gold jewellery pledged by Halleman Gill (20.1 grams) from Sialkot This auction involves the sale of pledged gold jewellery items held by the bank due to loan defaults. The items are located across various cities including Chak Jhumra, Daska, Mandi Bahauddin, Mardan, and Sialkot. The bank is responsible for the auction process and invites the defaulters to redeem their items before the auction date. Eligibility to participate in the auction is open to the concerned defaulters and interested buyers. No specific PEC category or FBR registration is required for participation in this auction. The auction will be held on the specified dates for each item, with the earliest starting on 10 August 2026 and the latest on 12 August 2026. Bidders should note the importance of timely collection or participation to avoid loss of pledged assets. The auction process is straightforward, but bidders are advised to verify the authenticity and condition of the jewellery before bidding. A practical tip for bidders is to attend the auction on the scheduled date and time, ensuring all necessary documentation and earnest money are prepared in advance to facilitate smooth participation and avoid disqualification.