PNB announces property auction of prominent J&K car dealership

By
Ziraat Times
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Jammu, Sept 6: Punjab National Bank has issued a notice for an upcoming auction of various properties belonging to one of J&K’s prominent car dealerships.

This auction comes as part of an effort to recover outstanding financial dues under the provisions of the Security Interest (Enforcement) Rules, 2002, according to the notice received by Ziraat Times.

The auction features several commercial properties located in Srinagar, including land and buildings. These properties are detailed as follows:

1. Property at Samander Bagh, Srinagar: Land and building in the shape of Hotel.
Reserve Price: INR 255.62 Lacs.

Auction Date: October 18, 2024, from 10:00 AM to 5:00 PM.

2. Property at Baghi, Masjid, Srinagar:

Description: Commercial building.

Reserve Price: INR 255.26 Lacs.

Auction Date: October 18, 2024, from 10:00 AM to 5:00 PM.

3. Property at Bemina, Srinagar:

Description: Commercial land. Reserve Price: INR 10.00 Lacs.

Auction Date: October 18, 2024, from 10:00 AM to 5:00 PM.

The properties will be sold through an e-auction platform, details of which can be found on Punjab National Bank’s official website. The bank has stated that the properties are being sold on an “AS IS WHERE IS”, “AS IS WHAT IS BASIS”, and “WHATEVER THERE IS BASIS”.

Interested parties are encouraged to view the detailed terms and conditions of the sale and register for the auction on the specified e-auction platform.

For further details and inquiries, contact Harpal Singh, the authorised officer, at the Punjab National Bank’s secured creditor office in Jammu.

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