A “BYD” car put up for auction for sale

As we well know, if targeted loan funds are misused and the debt is not settled, courts are approached to recover it.

Documents adopted by the court are sent to Compulsory Enforcement Bureau (MIB) bodies to organize enforcement proceedings.

According to the decision of the Beruni Interdistrict Court on Civil Cases, it was determined to recover 278.5 million soums from the debtor H.M. in favor of the To‘rtko‘l branch of "Trastbank" JSCB.

The enforcement document issued based on this court decision was received by the Department of the Bureau in the Republic of Karakalpakstan, and a 15-day voluntary period was granted to ensure the execution of the enforcement document, while explaining the consequences of failing to execute the court decision.

Despite this, since the requirement of the enforcement document was not fulfilled by the debtor, the “BYD” car belonging to him was seized by the state enforcement officer in the established manner and put up for sale via the electronic online auction trading platform.

It is ensured that the funds raised from the sale will first be used to cover the debt, and any remaining money will be returned to the debtor.