Banking court issues bailable arrest warrants for Nawaz Sharif’s cousins

Syed Umarullah HussainiWeb Editor

01st Mar, 2020. 10:55 am
Banking Court

A banking court in Lahore issued bailable arrest warrants for cousins of former prime minister Nawaz Sharif for not complying with the court orders in cases against them for allegedly defaulting on bank loans.

Banking Court Judge Munir Joya issued arrest warrants for Tariq Shafi, Javed Shafi and others.

The banking court is hearing a case against the accused after different banks moved courts as they allegedly defaulted on loans.

The court had summoned them many times but they didn’t turn up after which the court issued their non-bailable arrest warrants.

The banking court had summoned the accused as they accused of receiving billions of rupees as loans from the banks for Kashmir Mills and Ettefaq Sugar Mills but never repaid their debts.

It should noted that a day before, another Banking Court had ordered to auction a property of Ali Imran Yousaf.

Ali Imran Yousaf is son-in-law of former chief minister Shahbaz Sharif, after he defaulted on a bank loan.

It has been learnt that Ali Imran Yousaf had obtained a loan of more than 20 million from the United Bank Limited.

However, he didn’t pay a single installment of the loan. After which the bank moved the court. The court issued orders to auction two-Kanal property of Ali Imran Yousaf located in DHA.

The auction of the property will take place on March 27.

It has also learnt that Rs 48 million is the starting auction price of the property.

On the other hand accountability court on Friday again granted exemption to Nawaz Sharif from personal appearance by March 30.

The exemption granted on medical grounds in Chaudhary Sugar Mills alleged money-laundering case.

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