Public Auction of Six-Marla Mortgaged House in Vehari by MCB Bank Limited

MCB Bank Limited invites the general public to participate in the auction of a mortgaged six-marla house in Vehari under Section 15 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. The sale is being conducted to recover outstanding mortgage money from Mr. Zahid Hussain, son of Haq Nawaz, residing at Chak No. 11, W.B., near Shamash Masjid, Mohallah Murtazaabad, Tehsil and District Vehari. The outstanding mortgage money up to May 2025 is Rs. 8,388,311.92, determined by M/s Fazal Mahmood & Co., Chartered Accountants, in their report dated 30 June 2025.

The property is House No. 163/A, measuring six marlas, bearing Khewat No. 11/5/2/11/5, Khatooni No. 47, Qittat No. 92, Square No. 24 and Acre No. 2-Min. It is situated at Chak No. 39 WB Urban, Defense View Housing Society, Phase I, Gulberg Road, near University of Education, Tehsil and District Vehari.

The auction will take place at the property site on 17 November 2026 at 11:30 a.m. The date for affixing the proclamation at the site is 29 October 2026. The reserve price is Rs. 10,285,000, and bids below this amount will not be accepted.

Members of the general public may bid after depositing Rs. 300,000 as earnest money, in cash or by pay order to the undersigned, and providing a copy of their CNIC before bidding begins. Earnest money will be refunded to unsuccessful bidders. The highest bidder will be declared the successful bidder and purchaser.

The successful bidder must deposit at least 25% of the bid amount within two business days of the auction. The balance must be deposited within fifteen days of the initial deposit. Failure to pay within the prescribed period will result in forfeiture of earnest money, adjustment of the remaining deposited amount against the borrower's liability, and re-auction of the property.

The property will be sold on an as-is-where-is basis. The bank accepts no responsibility for errors in the property particulars drawn from mortgage deeds and other documents. The auctioneer may adjourn proceedings without assigning reasons. The purchaser must pay all transfer and registration duties, including applicable federal and FBR taxes.

The auctioneer is MCB Consumer Centre, Collection Department, with its branch at 59-A, Abdali Road, Ground Floor, Multan. The auction is conducted through Mr. M Azhar Saleem, Advocate High Court, contact number 0333-4233808.