Public Auction of Flat B-1907 in Micassa Luxury Apartment by Banking Court No. 1 Karachi

Banking Court No. 1, Karachi, before Judge Muhammad Saad Qureshi, will conduct a public auction of a mortgaged residential flat in Execution No. 129 of 2019 arising from Suit No. 206 of 2015. House Building Finance Company is the decree holder, and Aqeel Ahmed Siddiqui, son of the late Ahmed Siddiqui, and Shabana Aqeel, wife of Aqeel Ahmed Siddiqui, are the judgment debtors.

The property offered for sale is Flat No. B-1907, fourth floor, Micassa Luxury Apartment, measuring 94.44 square yards, situated in Gulshan-e-Iqbal, Block 12, KDA Scheme No. 24, Karachi. The auction is being conducted under Order 21 Rule 64 of the Code of Civil Procedure, 1908, for recovery through the sale of the attached mortgaged property. The property will be auctioned on an as-is-where-is basis. Its market value is Rs. 1,800,000, and its forced sale value is Rs. 1,444,000.

The auction will take place on 19 December 2026 at 1:00 p.m. at the mortgaged property. Interested purchasers should attend the auction at the property location and comply with the court's payment and identification requirements.

The person declared the highest bidder or purchaser must immediately deposit 25% of the bid amount by pay order in favour of the Judge, Banking Court No. 1, Karachi. A photocopy of the purchaser's CNIC must accompany the deposit. Payment of this 25% deposit by cheque or cash will not be accepted.

The purchaser must pay the balance of the purchase price through the court's Nazir within 15 days of the auction date. If the purchaser fails to pay the balance within that period, the amount deposited on the auction date will be forfeited. All government taxes and dues are payable by the auction purchaser.

The sale is subject to confirmation by the court. The court reserves the right to cancel the auction, decline any bid even if it is the highest, or cancel the auction at any time. The auction order is issued by Ahmed Sohail Mahesar, Nazir, Banking Court No. 1, Karachi. The court office is at Block No. 51, Pakistan Secretariat, Saddar, Karachi.