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Bank loan default: Court directs Sharif cousins to appear on Aug 24

LAHORE: A banking court in Lahore on Monday directed the cousins of former prime minister Nawaz Sharif to appear in person in a case against them for allegedly defaulting on bank loans.

Judge Muneer Ahmed Joya approved applications of Tariq Shafi and others for exemption from personal appearance in today’s hearing and directed them to turn up at next hearing on August 24.

A counsel representing different banks that instituted the case against the accused persons for allegedly defaulting on loans stated before the judge that Ittifaq and Kashmir sugar mills obtained loans worth Rs700 million from his clients.

It was submitted that the former premier’s cousins were served multiple notices by the banks to pay back the loan but to no avail. The court, therefore, was requested to order action against them as per relevant laws.

On June 30, an accountability court of Islamabad had started the process of declaring former premier Nawaz Sharif a proclaimed offender in a reference related to receiving luxury vehicles and gifts from Toshakhana.

A National Accountability Bureau (NAB) prosecutor submitted a compliance report to Accountability Judge Asghar Ali stating that the bureau forwarded arrest warrants against Sharif, who is in London, through the Foreign Office.

Observing that the PML-N supreme leader is not joining the trial proceedings intentionally, the judge issued directives for starting the process of declaring him a proclaimed offender over perpetual absence from the hearing.

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