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Tender Details
Description / Scope of Work
The Bank of Punjab invites public bids for the auction of multiple residential and agricultural properties mortgaged in the account of M/S Sumaira Flour Mills (Private) Limited across Punjab. The mortgaged properties are being auctioned due to the borrower's failure to repay mortgage money advanced under the subject securities. The auction encompasses residential properties measuring between 1,728 to 2,560 square meters located in various towns including Kasur and Lahore, as well as agricultural land measuring 69,531 acres situated in Hyderabad, Taunsa, Muzaffargarh, and Dera Ismail Khan districts. The reserve prices range from Rs. 3.4604 million to Rs. 9,837.834 million depending on property valuation. Interested bidders must obtain detailed information from the Bank of Punjab offices located at various branches throughout Punjab, particularly in Lahore and Kasur where primary property documentation is held. Bid documents will be available for inspection at the Bank's offices with advance notice, and the Bank reserves the right to reject any or all bids without assigning any reason or further notice to bidders.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
Bank of Punjab is liquidating mortgaged assets from a defaulted flour mill account—mixed portfolio of residential plots (1.7–2.6k sqm) in Kasur/Lahore and substantial agricultural holdings (69k+ acres) across southern Punjab districts.
Reserve prices span Rs 3.46cr to Rs 98cr, indicating highly heterogeneous lot values. This is a distressed asset recovery auction with 18-month closure window; bidders should expect standard bank auction procedures but verify exact property locations and encumbrances early, as geographically dispersed collateral complicates due diligence.
Who can bid: Tender does not specify registration or eligibility criteria. Typically, public auctions by Pakistani banks require NTN/valid CNIC for individual bidders and SECP registration for corporate entities. Bid security (earnest money) submission is standard. Verification of bidder credentials and property survey access arrangements should be confirmed directly with Bank of Punjab branches.