LHC reserves verdict on Ramzan Sugar Mills plea      

• Justice Ayesha A Malik reserved the verdict on competition of arguments by petitioner's counsel and NAB prosecutor.
• The mills administrator had filed the petition, submitting that all assets of the mills had been frozen following references made by the NAB.

LAHORE: The Lahore High Court on Thursday reserved verdict on a petition filed by Ramzan Sugar Mills of the Sharif family against non-registration of its shares by the Security Exchange Commission of Pakistan (SECP).

Justice Ayesha A Malik reserved the verdict on competition of arguments by petitioner's counsel and NAB prosecutor.

The mills administrator had filed the petition, submitting that all assets of the mills had been frozen following references made by the NAB.

He said the mills wanted to obtain loan from bank and it requested the SECP to register its shares for the purpose. But, the commission refused to register the shares due to NAB references pending against the sugar mills.

He asked the court to order the SECP to register shares of the mills so that it could secure loan from the bank.