Public-at-Large is hereby informed that mortgaged property, mentioned below, is being sold through public auction by WorldCall Telecom Limited (“WorldCall”) in terms with Clause 6 of the Mortgage Deed dated March 22, 2011 duly registered with Sub-Registrar Nishtar Town, Lahore vide Document No.6010, Book No.1, Volume No.3556, dated 18-04-2011 to recover the outstanding mortgage money plus interest from the mortgagor who mortgaged the property to secure the finance of M/s WorldCall Telecom Limited having its office at Plot no. 112 & 113, Block-S, Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore.
The name and address of the mortgagor are as under:
Mr. Haroon Rashid Khan s/o Abdul Rashid Khan bearing CNIC 35202-1112229-5, presently resident of L-249, Phase-I, DHA, Lahore and permanent resident of House No.8, lane No.60, Shardhanand Street, Krishan Nagar, Lahore.
Amount of outstanding mortgage money plus interest till 31st January 2022: USD 323,000/-. The Reserved Price is PKR 50 Million.
Particulars of the Mortgaged Property:
House No. L-249, Phase-I, DHA Lahore Cantt., Lahore.
Schedule of Auction
Date and Time of auction: ______
Place of Auction: WorldCall Telecom Limited, Plot No. 112-113, Block-S, Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore
Terms and Conditions of the Public Auction:
No bid shall be received below the reserved price. Every member of the general public shall be entitled to bid in the auction subject to deposit of Rs. 200,000/- in cash or by way of pay order to the WorldCall Telecom Limited, same shall be refunded to the unsuccessful bidder(s).
The highest bidders shall be declared to be purchaser of the auction property as soon as the bidding ends. The highest bidder shall pay 10% of the bid price in cash or by way of payment order within 3 days of auction. The remaining amount of 90% shall be paid at the time of transfer of mortgage property in the name of the successful bidder.
NCOC: Pakistan reports 3,914 new Covid infections, 47 deaths in the past 24 hours
In case the highest bidder fails to make 10% down payment his earnest money shall stand forfeited and the property may be offered to next highest bidder or may be re-auctioned as the WorldCall in its sole discretion deem appropriate. The other terms and conditions of the auction shall be announced at the time of the sale.
The Purchaser shall be responsible for the cost of transfer along with provincial and federal taxes.
- Contact Person: Muhammad Kashif Ayub
- Phone: 0300-4894769
- Legal Advisors: MianKot Law Chambers, Suit No. 214 – 215, National Tower, 28-Egerton Road, Lahore – Pakistan
Stay tuned to Baaghi TV for latest news and updates!
